Facebook U-Turns on Crypto Ad Ban as it Intensifies Own Blockchain Efforts13.2

Facebook has today announced a relaxing of its advertising ban on companies promoting products and services relating to crypto. The move comes as the social media giant is ramping up its own efforts to create a stablecoin to use within some of its applications.

Many in the crypto community argue that a Facebook-promoted digital asset would be in competition with the US dollar and other fiat currencies rather than Bitcoin. Meanwhile, others have stated that the company’s efforts to create its own digital currency could prompt loads of new users to enter crypto.

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