Facebook lifted its ban on crypto ads, meaning that advertisers can now target ads to Facebook users who have shown interest in cryptocurrency.
Facebook(Meta) lifted the ban on crypto ads and other cryptocurrencies. Facebook had initially banned ads related to cryptocurrencies, ICOs, and binary options because they were associated with misleading or deceptive practices due to the lack of regulation in these industries.
In a statement posted today, the social media giant said that it will now allow ads related to cryptocurrencies that are currently operating in accordance with all relevant rules and regulations.
The lifting of the cryptocurrency ad ban is likely to boost crypto-related businesses by giving them a chance to advertise their new wares in a much more effective way in the social media platform they use most often.
Now Advertisements for cryptocurrencies will re-appear on Facebook, Instagram, and WhatsApp. Meta, the technology company, revealed Wednesday that it had modified its standards for undertaking industry advertising campaigns.
Previously, businesses could only submit proposals for advertisements with one of three regulatory licenses. Meta has now added 27 more licenses to its list of recognized ones. As a result, a much greater number of cryptocurrency businesses will be able to advertise on platforms.
Following the January 2018 bull market, Facebook, Instagram, and Whatsapp prohibited exchanges, trading platforms, wallets, mining equipment manufacturers, and other cryptocurrency firms from advertising. The prohibition targeted mainly cryptocurrency start-ups that promoted initial coin offerings (ICOs), a previously regulated technique in the United States. Due to recent modifications to advertising eligibility, cryptocurrency firms will now have a lot easier time obtaining approval to broadcast advertisements.
Well…. This decision has shown to be positive for the growth of cryptocurrency and blockchain in general. It also shows that Facebook is moving towards compliance with government regulations.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.