Major social media platforms, including Facebook, Instagram and Twitter have recently banned advertising for cryptocurrencies and initial coin offerings (ICOs), whilst Google will introduce similar regulations in June 2018. Facebook came first saying that such ads are related to ‘deceptive promotional practices’ and setting a precedent for other social media giants that have taken similar action towards crypto and ICO-related advertising.
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The blanket bans have certainly done some damage to the market. Not only has it deprived industry players of certain promotional tools, but also contributed to the stigmatization of cryptocurrencies as a whole. However, there’s always a bright side: some experts argue that the crackdown might actually lead to legitimization of the industry.