Adverts for the popular fiat-cryptocurrency gateway Coinbase have reappeared on Facebook and Google services following the reversal of cryptocurrency advert bans last month.
The ban was put in place in January in response to the growing number of cryptocurrency scams using Facebook and Google to reach large numbers of individuals. Both Facebook and Google expressed concerns that they were putting their users at risk and lowering their public image, implemented a blanket ban.
While the move may have protected clients, many legitimate cryptocurrency businesses were negatively affected, with the internet giants tarring all digital currency businesses and services with the same brush.
Just weeks after the reversal of the ban, users are today reporting seeing adverts for Coinbase on Facebook owned Instagram, the popular image-based social media service.
Reddit users also spotted adverts for Coinbase on Google:
The ban on cryptocurrency ads was seen by many as a significant factor in the January bear market, where Bitcoin fell from $20,000 to just $6000. The move was seen as potentially part of a wider clampdown on digital currencies, with bans on their use expected around the world from governments.
Fortunately, the winds of regulation have shifted since then, with the USA’s Securities and Exchange Commission giving cryptocurrencies the green light to continue developing, and others following suit. South Korea was the most recent country to announce a positive stance, reversing its ban on Initial COin Offerings and introducing a framework for fair regulation.
With positive news for cryptocurrencies coming from both major corporations and governments alike, an air of expectancy is emerging in cryptocurrency communities. The feeling is that a price breakout is expected any day now, and Bitcoin’s rise from $6000 to $7700 today has been seen as the first step of the market’s recovery.