Facebook back in January had announced that it is introducing a new policy to “prohibit ads that promote financial products and services that are frequently associated with binary options, initial coin offerings and cryptocurrency.
The company back then regarding the policy has also said: “this policy is intentionally broad while we work to better detect deceptive and misleading advertising practices… We will revisit this policy and how we enforce it as our signals improve.” Now months after the policy, Facebook is now making changes to allow some ads while also working to ensure that they’re safe.
Starting from June 26th, Facebook will update its policy to allow ads that promote cryptocurrency and related content from pre-approved advertisers. However, it will still continue to prohibit ads that promote binary options and initial coin offerings. Advertisers who wish to run ads based on cryptocurrency products and services must submit an application for Facebook to access the eligibility including any licenses obtained, whether they are traded on a public stock exchange, and another relevant public background on their business.
Thanks to these restrictions, not everyone who wants to advertise will be able to do so. Since crypto has a lot of believers and followers, it is easy to see why Facebook wants to sell crypto ads.