Facebook’s ban on Bitcoin (BTC) and cryptocurrency ads on its social networks, including Facebook, has been partially lifted. Now, only authorized advertisers can once again add cryptocurrency ads on Facebook.
In January 2018, when Facebook announced that it was no longer accepting cryptocurrency ads, the company immediately added that it was not a permanent ban. Facebook wanted to give itself some time to examine how to deal with this somewhat new type of advertising. Five months later, we guess Facebook found an answer.
Only the authorized advertisers will be able to use cryptocurrency ads on Facebook
Cryptocurrency platforms and other companies that want to advertise for services related to cryptocurrencies must now submit a request to Facebook and wait for approval. Advertising in favor of ICOs (Initial Coin Offering) is still prohibited with no further details being offered, but Facebook announced it maintained its opinion on ICOs, as this type of fundraising is often associated with misleading or deceptive promotions.
On the other hand, no advertising is tolerated for the binary options trading platforms that are allowing speculation on the course of the cryptocurrencies.
Facebook sees the blockchain technology that powers cryptocurrencies as something useful
Rob Leathern, product management director for advertising at Facebook, writes in a release posted on his blog that due to restrictions, not all cryptocurrency ads will be accepted.
“We will be attentive to reactions, we will examine how our policy works, and we will continue to study the subject so that we can review our position after some time, if necessary.”
Facebook sees the blockchain technology behind the cryptocurrencies as useful. For example, in May, the company created a research department on new applications for the blockchain technologies, directed by David Marcus, the former manager of Facebook Messenger.
On Twitter and Google, on the other hand, the cryptocurrency ads ban remains active.