Facebook is now allowing advertisements promoting cryptocurrency and related items, reversing a decision it made in January to prohibit such advertisements.
Earlier this year, the site experienced banned ads for binary options, preliminary coin offerings and cryptocurrency — financial products it associated with “ deceptive or deceptive promotional practices. ” As of today, Facebook has reversed the decision on cryptocurrency — yet only for advertisers who have been pre-approved from the company. Ads for binary options plus initial coin offerings are still prohibited.
“ Advertisers planning to run ads for cryptocurrency services and products must submit an application to help us evaluate their eligibility — including any kind of licenses they have obtained, whether they are usually traded on a public stock exchange, as well as other relevant public background on their company, ” writes Facebook’ s item management director, Rob Leathern, at the Facebook company blog .
Leathern referenced Facebook’ s earlier choice to ban ads for specific financial products and services, noting how the policy had been “ intentionally broad” to give the company more time to determine exactly how advertisers used misleading and misleading advertising practices to promote financial products such as binary options, initial coin offerings plus cryptocurrency.
According to Leathern, Facebook has spent the last few several weeks finding ways to refine the plan, while ensuring ads are safe — choosing to allow advertisers promoting cryptocurrency as long as they are vetted via Facebook’ s application process.
Facebook is also leaving the door available to further policy changes: “ We’ ll listen to feedback, look at just how well this policy works plus continue to study this technology to ensure that, if necessary, we can revise it with time. ”
Since the Cambridge Analytica problems , Facebook has been thoroughly looking at its ad policies, refining its ad-targeting abilities and limiting the amount of user information available to apps .
Last week, the site changed its weapon accessory advertisement policy , limiting ad focusing on to users age 18 plus older. It also updated its political and issue-based ad policies , requiring any kind of advertisers paying for political or issue-based ads be verified on the system.
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