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Facebook relaxes ban on cryptocurrency ads

by Purvai Dua
27th Jun 18 2:13 pm

Facebook has decided to allow certain ads promoting cryptocurrency and related content from “pre-approved advertisers”, but would continue its ban on those tied to binary options and initial coin offerings.

“We will 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,” Facebook’s product management director, Rob Leathern, said in a blog yesterday, adding that advertisers will need to be vetted.

“Advertisers wanting to run ads for cryptocurrency products and services must submit an application to help us assess their eligibility — including any licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public background on their business. Given these restrictions, not everyone who wants to advertise will be able to do so,” he wrote.

In January, the social network and advertising giant had announced a ban on ads that promoted initial coin offerings and so-called binary options.

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