Facebook softens its stance on crypto ads
Facebook starts allowing ads that promote cryptocurrency and related content from pre-approved advertisers.
According to an official statement, the new updated terms started working from June 26. Ads promoting binary options and initial coin offerings will continue to be prohibited.
Those advertisers who wish to run ads for cryptocurrency products and services must submit an application to help Facebook assess their eligibility. The application must contain information on any licenses advertisers have obtained, whether they are traded on a public stock exchange, and other relevant public background on their business.
“Given these restrictions, not everyone who wants to advertise will be able to do so. But we’ll listen to feedback, look at how well this policy works and continue to study this technology so that, if necessary, we can revise it over time,” Facebook states.
Let us remind that in January Facebook announced that its new policy will “prohibit ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.”
“In the last few months, we’ve looked at the best way to refine this policy — to allow some ads while also working to ensure that they’re safe,” the statement reads.