But Why? Crypto Looks for Answers As Facebook Eases Ad Ban

Which is why when Facebook recently announced a change in their advertising policy that would effectively lift a ban imposed back in January over cryptocurrency-related products and services, some social media observers were quick to interpret this change of heart as an act of financial desperation.

In the eyes of one Reddit user who works in online advertising, Facebook's decision is nothing out of the ordinary.

Looking back on the original announcement published on January 30 by Rob Leathern, Facebook's product management director, Facebook isn't exactly doing a 180-degree turn by updating their policies.

For the part of the ban that has been lifted, namely on cryptocurrency products and services, a separate application process will screen interested parties and assess eligibility for advertising on Facebook based on "Licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public background on their business."

Facebook's cautious approach is one that has been echoed by other major sites, such as Twitter and Google, among others, who continue to prohibit the advertisements of cryptocurrency-related products and services.

Even the partial change of heart by Facebook on this matter has been taken by certain crypto enthusiasts as a sure sign of the growing popularity of the industry that will soon win over other major players.

Specifically, Facebook's ad policy change was seen as a signal regarding its own plans around blockchain, sparking renewed conversation about a suspected in-house cryptocurrency or token.

The rumor first began shortly after David Marcus, the company's vice president for its Messenger app division and former president of PayPal, said in a Facebook post he would be "Setting up a small group to explore how to best leverage blockchain across Facebook, starting from scratch."

Three days later on May 11, Cheddar published an article titled "Facebook Plans to Create Its Own Cryptocurrency" claiming that the company would explore "The creation of its own cryptocurrency" as confirmed by people "Familiar" with the company's plans.

Other rumors circulating the web have posited that Facebook has plans to buy Coinbase, the largest U.S. based cryptocurrency change by trade volume, in which Marcus sits as a member in their board of directors.