Meta (formerly Facebook) has eased its policies for crypto advertisements. This makes it more convenient for businesses to post cryptocurrency ads on the platform. “We’re doing this because the cryptocurrency landscape has continued to mature and stabilize in recent years and has seen more government regulations that are setting clearer rules for their industry,” the company explained.
Meta’s New Rules for Cryptocurrency Advertising
Meta (formerly Facebook) announced Wednesday that it has new guidelines for cryptocurrency advertising.
Instead of “using a variety of signals to confirm eligibility” for advertising on its platform, the company has increased the number of regulatory licenses it accepts from three to 27. Businesses now only require one of the 27 licenses in order to advertise on Facebook.
“We’re making it easier to run ads about cryptocurrency on our platform,” Meta emphasized, adding:
We’re doing this because the cryptocurrency landscape has continued to mature and stabilize in recent years and has seen more government regulations that are setting clearer rules for their industry.
There are 27 licenses available. These include licences issued by U.S. regulators.
Some jurisdictions accept more than one type of license. Businesses in the U.S. need not be registered as money-service businesses with Financial Crimes Enforcement Network.
The social media company detailed that this change will not affect advertisers who have been approved before.
This will make our policy fairer and more transparent, and it will allow advertisers to take advantage of our tools, and help them grow their businesses.
Meta stated that crypto platforms and software apps are still subject to prior written consent. “Cryptocurrency wallets that also allow people to buy, sell, swap or stake their cryptocurrency tokens” and “Hardware and software for cryptocurrency mining” are also included.
The ad change announcement came one day after Meta’s executive David Marcus said he is stepping down and leaving the company at the end of the year. Marcus leads Facebook’s crypto efforts, including a crypto wallet and the digital currency diem, formerly libra.
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