Facebook reverses crypto advertisment terms

Blockstuffs . 3 mins read . May 9, 2019

Facebook has recently announced that it is rolling out its 2018 cryptocurrency related ads from its platform.

In a blog post, the social media giant revealed that they were reconsidering advertising policies related to blockchain, cryptocurrency and financial products and services. The post assures that the announcement is entirely based on the feedback received.  

On addressing the policy’s effectiveness, the post further confirmed that the narrowed policy no longer require pre-approval for the ads related to cryptocurrency, blockchain technology, industry news, education or events.

Even with the updated Advertising Policies and Community Standard,  users still need to follow guidelines such as ad's text, targeting, positioning, images and content on the landing page comply.

Facebook is still uncertain and skeptical about the misleading advertisement on the platform that could tamper the security of the users. That’s why Facebook has Prohibited Financial Products and Services policy, which will no longer allow ads promoting contracts for difference (CFDs), complex financial products commiting to the security of the users.

Due to the vulnerability of the financial services and products, Facebook still plans to review ads related to cryptocurrency exchanges,  Initial coin offering (ICO), and mining software and hardware.

Facebook initially blocked unauthorized crypto related ads starting from June 5, 2018. The policy stated that any crypto products that wished to advertise needed to get pre-approval.

This incident might be similar to Google which banned cryptocurrency-related advertising in the US and Japan and brought back crypto related ads in September 2018.

Also Read: Google bringing back Crypto Ads

This news coincides with the speculation of Facebook launching its own stable coin. Do you think this news is related to Facebook's own coin? Do let us know in the comment section below.

Also Read: Is Facebook Introducing a New Coin?