After a cryptocurrency ban introduced back in January, Facebook decided to review the policy. Now, the cryptocurrency ads will be allowed again. The ban will still be upheld for initial coin offerings (ICO).
In an announcement made today, Facebook explained that it “looked at the best way to refine this policy — to allow some ads while also working to ensure that they’re safe”. The policy will be updated from June 26th “to allow ads that promote cryptocurrency and related content from pre-approved advertisers”.
The announcement stressed that Facebook will “continue to prohibit ads that promote binary options and initial coin offerings”.
Any advertisers interested in advertising will have to go through a verification process.
“Advertisers wanting to run ads for cryptocurrency products and services must submit an application to help us assess their eligibility — including any licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public background on their business.”
Not the final word
Facebook made it clear that this is just another update and they will keep an eye on how things unfold.
“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”
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