Linkedin founder: The ban on crypto ads is only temporary

Linkedin founder Eric Ly: The ban on crypto ads is only temporary.

Image source: Shutterstock/Wikimedia Commons

Christian Ploog

christian.ploog@trijo.co

The big social media giants recently decided to ban ads for cryptocurrencies. The question now is whether the ban will be forever.

Previously, Facebook, Google, and Twitter have banned advertisements that are related to cryptocurrencies. The reason is that they want to protect their users from fraudulent and misleading advertising.

However, despite the ban, some ads for ICOs and suspected frauds continue to occur on, for example, Facebook. One way to get around the ban seems to be to avoid banned keywords like “ICO” or “cryptocurrencies”, something Reddit users have noticed.

There is also reports that Facebook still allows promotion of suspected phishing websites.

Linkedin founder believes the ban will end

However, the question is if the ban will last forever. Eric Ly, Chinese-American investor, businessman, and co-founder of Linkedin, do not think so.

He believes that the ban is a way for the major platforms, like Facebook, Google, and Twitter, to protect themselves.

“Recently, the Securities and Exchange Commission [SEC, an independent agency of the United States federal government that covers securities trading] has been asking a lot of questions and subpoenas for information from people and companies. I believe that is a protective measure from a lot of these companies to not engage in new form of… not advertising, but activities by ICOs, they probably want to avoid potentially uncertain interactions with SEC”, he says to Cointelegraph.

“I believe that is a protective measure from a lot of these companies”

Eric Ly was one of the founders of Linkedin in 2003, but left the company in 2006 to develop his own projects.

When it comes to the ban on crypto ads, he is convinced that it will only last for a shorter period because advertising has an incentive to support as many domains as possible, he says.

“So when regulatory clears itself up, I believe there will come a time again when advertising of this nature around token sales will be re-permitted on these platforms”, says Eric Ly to Cointelegraph.

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