At the beginning of this year, Facebook decided to ban any kind of cryptocurrency ads. Now, the company decided to revise this move and opted for a more relaxed position, allowing some of these ads on the platform. However, the process is still a bit complicated, as Facebook will have to approve the businesses before allowing them to post ads.
Facebook banned all cryptocurrency ads in January
Near the end of January, Facebook took a harsh decision regarding advertisers. Even if the trend kept increasing in popularity, the company decided to ban all cryptocurrency ads. As an explanation, it invoked the connection between this type of currency and unfaithful types of promotion. Therefore, all ads of this kind disappeared from the platform.
Five months later, the company decided to revise this policy and make some changes. As a result, it will now allow some cryptocurrency ads, but only after a thorough processes. Businesses that display cryptocurrency ads will have to send an application that Facebook will have to approve first.
Facebook’s policy on cryptocurrency ads is now a bit more relaxed
The application will require businesses to answer a series of questions. For instance, they will have to make all their licenses public and reveal if they have ever been part of a public stock exchange. However, Facebook might ask for feedback from other sources as well. Therefore, an initial approval is not the final result.
Facebook declared this move was not a shift of its policy, but merely an update. In January, the platform adopted the policy but was planning to return to it for several revisions. Back then, Bitcoin was experiencing one of the its most sudden falls, so all transactions that involved it were risky.
Now, cryptocurrency managed to reach a stable level again. As a result, platforms are no longer so skeptical about it. In fact, Facebook even considered making its own virtual coin, so a return of cryptocurrency ads was necessary.
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