BREAKING: Meta expands the eligibility for crypto advertisements on Facebook

Due to expanded eligibility criteria, the company stated that it will allow more crypto and blockchain ads on Facebook and Instagram.
Metaverse marketplace and social media Meta have increased eligibility requirements for running Facebook cryptocurrency ads. This gives companies more freedom to market digital assets products. This means that more applications will be accepted to run cryptocurrency ads. Section 10 of Facebook’s updated advertisement policy, “Cryptocurrency products and services”, reflects these changes. Before the update, only a small segment of crypto companies could advertise on Facebook due to the limited number of regulatory licenses that the platform recognized. According to the updated policy, the following crypto products and services can now receive written permission to run ads on Facebook:Cryptocurrency exchanges and trading platformsCryptocurrency lending and borrowing servicesCryptocurrency walletCryptocurrency mining infrastructureIn addition, products and services related to blockchain technology, crypto news, education, payment methods and merchandise can be advertised without prior written permission. Cointelegraph was informed by a Meta spokesperson that the changes also apply to Instagram, which is owned and controlled by the company. Meta explained that the updated policy is a reflection of the maturation and increased regulation in the crypto industry. “[O]ver years, the cryptocurrency landscape has stabilized and matured, which has helped set clearer expectations and responsibilities for the industry. Moving forward, we will no longer use a variety signals to verify eligibility but instead require one of these 27 licenses.”Related to: Meta’s head for crypto to step down at the end of the yearFacebook changed its name to Meta in October to reflect its expanding ambitions beyond traditional social networks. According to Cointelegraph, the company is working on a “metaverse” which connects digital social media and the physical world. The new name of @Meta, the Facebook company. Meta is helping to create the metaverse, where we’ll connect and play in 3D. Welcome to the next chapter in social connection.– Meta (@Meta) October 28, 2021

Facebook banned cryptocurrency and initial coin offerings advertisements in January 2018. This was due to concerns about “deceptive promotional techniques.” However, the company reversed its ban six months later and maintained a long list prohibited products and services.

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