Meta has simplified the requirements for placing cryptocurrency ads on Facebook, giving projects more opportunities to promote product offerings based on digital assets
Meta reported that from now on it recognizes 27 regulatory licenses from advertisers (previously there were 3), that is, many more options for advertising cryptocurrencies will be approved. The changes are reflected in the 10th section of the updated Facebook advertising policy called “Cryptocurrency products and services”.
Until now, only a narrow segment of cryptocurrency companies had the opportunity to advertise on Facebook. According to the updated policy, the following crypto products and services can now receive written permission to advertise on Facebook: cryptocurrency exchanges and trading platforms, cryptocurrency lending services, crypto wallets, cryptocurrency mining infrastructure.
In addition, it is possible to advertise products and services related to blockchain technology, cryptocurrency news, education and payment methods without prior written permission. A Meta representative confirmed that the changes will also affect Instagram, which is owned by the company.
Meta explained that the updated policy reflects the development and strengthening of regulation of the crypto industry:
“Over the past years, the cryptocurrency sector has grown and stabilized. It strengthened government regulation, which helped to establish clearer responsibilities and expectations for the industry”
In January 2018, Facebook banned cryptocurrency and ICO advertising due to concerns about misleading promotion methods. About six months later, the total ban was lifted, but a long list of prohibited products and services appeared.
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