Nope, just make sure you have washed it enough. None of my tanks have been effected, pH always remains the same.
Dont mind people who say that play sand is not suitable...it is very suitable and since the grain is small the fish cant get their mouths torn. Some black sand is actually small glass particles which have sharp edges which will damage fish that live on the bottom and who sift through the substrate for food.
Just remember that if you dont want to cloud your tank with the play sand when your putting it into your tank, just get a glass and scoop the wet sand (after washing) and lower the glass slowly, when its at the bottom just let it fall out slowly, you wont have any problems with having to wait for sand to settle since it will settle straight away.
My tank looks great, and my fry love it.
The moon sand is superb if you want black sand...only its expensive!!
you could mix the moon sand with the play sand...should look good!