Meta, however, is also experiencing some complications in one of his most important plans: the creation of his own stablecoin called Diem, a virtual currency whose value matches the value of the dollar. This project has gone through many legal problems, which has caused many partners to no longer trust the company for the launch of the coin also known as ‘Balance’.
Currently, Mark Zuckerberg’s company seems be looking to sell the assets of this project. The goal, as revealed by Bloomberg, is “return capital to its investment partners”.
Meta also already allows more advertising on cryptocurrencies
The company led by Mark Zuckerberg updated a couple of months ago the criteria you use to decide which cryptocurrency ads, such as the Bitcoincan be published on their platforms to increase the number of licenses to more advertisers and companies.
At Meta’s official statemententitled “Expansion of eligibility to publish ads on cryptocurrencies”, the company explained how increasing market maturity and regulatory moves have convinced it to change its stance.
Previously, advertisers had to fill out consent forms with information about these adsas their license or relevant additional informationas well as its presence in a investment or Stock market. Now, marketing campaigns will be able to utilize the platform’s large user base.
However, the market has come a long way since then, and closer scrutiny from tech giants and regulators should mitigate this risk. Facebook itself is preparing for a metaverse project, which has naturally attracted headlines both inside and outside the crypto space.