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Facebook Reverses  cryptocurrency ads ban



Facebook is having a change of heart on its ban on cryptocurrency ads. In January, the social media giant announced its ban on everything cryptocurrency. Other internet giants such as Google, Twitter, and Snapchat followed Facebook’s lead and instituted similar bans earlier this year. However, Facebook is announcing its ban lift.
Although Facebook is lifting its ad ban on cryptocurrencies, advertisers will, however, have to go through ads pre-approvals. Also, ads related to initial coin offerings (ICO) or binary options are still be prohibited.
Facebook’s first policy was aimed at protecting its customers so it had to place a ban on cryptocurrency ads at a time when fraudulent  ICOs were making waves. The ban was placed on all “financial products and services frequently associated with misleading or deceptive promotional practices.” This affected other businesses from placing ads on Facebook as well.
Facebook product manager Rob Leathern explains,  “Given these restrictions, not everyone who wants to advertise will be able to do so…But we’ll listen to feedback, look at how well this policy works and continue to study this technology so that, if necessary, we can revise it over time.” The new policy will enable advertisers to fill out an application that includes information on licensing and whether their currency is publicly traded to help Facebook determine their eligibility.

What do you think about the Facebook lifting its ad ban? Share your opinion with us in the comment section below.
Image credit: Pixabay
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