In one of the quicker and more public about-faces in the tech industry, Facebook announced on June 27 that it would be partially reversing its blanket ban on cryptocurrency ads on its platform.
The company was seemingly unable to pass up the million-dollar potential in advertising revenues, so it will allow the sector to market itself again, albeit on a limited basis. The decision, which set a strong tone when first implemented in January, could have the same effect on the market, though it remains too early to tell.
Even so, Facebook's announcement did unleash some waves in the industry on both sides of the debate. To some, the advertising for the sector remains problematic at best due to the lack of regulation present. To others, the cryptocurrency market is revolutionary and those resisting change are simply standing in the way of progress. Either way, the recent announcement should tip some dominoes in the industry.