Facebook now allows advertisements promoting crypto-currency and related products, reversing its decision in January to ban such advertisements.
Earlier this year, the site banned ads for binary options, initial offerings and cryptocurrency – financial products associated with "misleading or deceptive promotional practices". Today, Facebook has reversed its decision on cryptocurrency. advertisers who have been pre-approved by the company. Announcements for binary options and initial coin offerings are still prohibited.
"Advertisers wishing to display ads for cryptocurrency products and services must submit an application to help us assess their eligibility – including the licenses they have obtained, that they are negotiated on a public purse or in other relevant public contexts. ", Writes Facebook's product management director, Rob Leathern, on Facebook's corporate blog.
Leathern mentioned Facebook's earlier decision to ban advertisements for certain financial products and services, noting that the policy had been "intentionally wide" to give the company more time to determine how the advertisers used deceptive and misleading advertising practices to promote binary financial products. options, initial coin offerings and cryptocurrency.
According to Leathern, Facebook has spent the past few months figuring out ways to fine-tune the policy, while ensuring that ads are secure – by choosing to allow advertisers to promote cryptocurrency as long as They are approved through the Facebook application process.
Facebook also leaves the door open to other policy changes: "We will listen to comments, we will see how this policy works and we will continue to study this technology so that it can be revised as needed. time.
Since the Cambridge Analytica Crisis, Facebook has completely revised its ad policies, refined its ad targeting capabilities, and limited the amount of user data available to apps.
Last week, the site changed its policy on ads for weapon accessories, limiting advertising targeting to users aged 18 and older. It has also updated its policy and problem-based advertising rules, requiring all advertisers who pay for political or problem-based ads to be verified on the platform.