Eric Ly, co-founder of LinkedIn, today one of the most popular social networking sites on the Internet - and the most popular for all professional, work-related purposes - recently talked with news media sources regarding the platform's recent ban of all advertisements for cryptocurrencies.
As many crypto supporters are all too aware of, many websites and social networking platforms alike have shut down advertising for cryptos of any sort, as an unusually high proportion of them are fraudulent or otherwise conducting illegal activity, in terms of how often other industries' competitors advertise for such fraudulent behavior.
Eric Ly and his co-creation, professional social media giant LinkedIn, hope to bring cryptocurrency advertising back into action, with intentions to create an ecosystem around ICOs - initial coin offerings; ICOs are similar to initial public offerings of stock in businesses before they hit stock markets like the New York Stock Exchange.
It's not surprising that LinkedIn cut crypto ads - really, anything that had to do with cryptos and digital currency - because Facebook, Google, and Twitter, among innumerable other sites did the same thing in the name of reducing the likelihood of their platforms' users were tricked to fraudulent ads they were exposed to on those web pages.
Because the United States SEC - the financial oversight government bureau, the Securities and Exchange Commission - has yet to regulate cryptocurrencies, tokens, and digital currencies, it's difficult for government agencies to catch on to bad behavior conducted by such alleged providers of various coins.
However, the SEC has, in fact, sent out several subpoenas for players in the world of cryptocurrencies, giving advertisers - those that use platforms like Eric Ly's LinkedIn to spread their word around the world wide web - reason to believe that regulation may soon enough be enacted, making the industry generally safer, which should, in turn, lead to more crypto ads being found on the world's most popular web pages.
Even though no advertisers online could be held liable for hosting such ads, thanks to the Digital Millennium Copyright Act, platforms like LinkedIn just don't want to take the chance of harming their users.