Market

Meta ‘relaxed’ crypto advertising terms on Facebook

Social media giant Meta has expanded the terms and conditions for running crypto advertisements on Facebook, giving companies more opportunities to market digital asset products.

Meta said will recognition 27 government licenses from advertisers – a nine-fold increase from the previous three – and are effective immediately. This means that there will always be more space for crypto ads. The changes are reflected in Section 10 of Facebook’s updated Advertising Policy, entitled “Cryptocurrency Products and Services”.

Previously, only a limited number of crypto companies could advertise on Facebook as the platform recognized a small number of government licenses. Under the new policy, the following crypto products and services can now receive written licenses to run ads on Facebook:

  • Cryptocurrency platforms and exchanges
  • Cryptocurrency credit and lending services
  • Cryptocurrency wallet
  • Cryptocurrency mining infrastructure

In addition, products and services related to blockchain technology, crypto messaging, education, payment methods, and goods can be promoted without prior written permission. A spokesperson for Meta confirmed that these changes are also having an impact on Instagram, which the company owns.

Meta stated that the updated policy reflects the maturation and strengthening of regulation of the crypto industry, namely:

“Over the years, the crypto landscape has matured, stabilized, and increased government regulation, which has helped set clearer responsibilities and expectations for the industry. In the future, we will not use a multitude of signals to confirm authorization, but instead request one of these 27 authorizations. ”

Facebook renamed itself Meta in October, reflecting its growing ambitions beyond traditional social media. The company wants to build a “metaverse” that connects digital social media with the real world.

Facebook initially banned the offering of cryptocurrencies and ICO ads in January 2018 due to concerns about “fraudulent advertising practices”. About six months later, the company lifted a mass ban on crypto advertising but kept a long list of restricted products and services.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Missed the AAVE Bullish Ride? This New Presale Can Turn Your Thousands into Millions

While Aave finds itself in uncertain territory, a fresh face in the crypto scene, Qubetics…

5 hours ago

Dogecoin Price Forecast: Analysts Push For $0.2288 DOGE While This Ethereum Altcoin Eyes 8,000% Gains In The Next 16 Days

Analysts push for a Dogecoin price surge to its $0.2288 yearly high while ETFSwap (ETFS)…

5 hours ago

Below $1 Swift Altcoin Competitor Could Overshadow XRP Price Potential Election Rally 

Discover the promising altcoin under $1 that may outperform XRP amid election volatility and market…

5 hours ago

Polkadot and SP Negócios Collaborate to Enhance Crypto Economy Development

Campinas, Brazil, 5th November 2024, Chainwire

6 hours ago

Terra Shuttle Bridge Has Now Been Disabled

Terra Shuttle Bridge has now been closed, and all remaining LUNC and USTC tokens have…

7 hours ago

FLOKI Announces Dubai Takeover with WAFI Mall Campaign

Miami, Florida, 5th November 2024, Chainwire

8 hours ago

This website uses cookies.