Facebook will now allow some Cryptocurrency Adverts and some preapproved advertisers to promote crypto businesses and services, like exchanges. ICO advertisement is still BANNED.
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Facebook previously banned all crypto ads it’s service back in January. That was during the bitcoin price surge, to prevent people from promoting “financial products and services frequently associated with misleading or deceptive promotional practices.”
Currently, advertisers that are approved by Facebook through an application process can now promote cryptocurrency products, though ads promoting binary options. ICOs, Initial Coin Offerings, are still under ban. Interested advertisers may have to show Facebook “licenses they have obtained, whether they are traded on a legal public stock exchange, and other relevant legal publictrading platform” in order to receive permission to run crypto ads.
The cryptocurrency market capitalization has declined considerably since early 2017. Currently and specifically this morning. The Bitcoin Price is below $7,000 per coin. The then sudden rise in crypto created a huge cash flow in by consumers who wanted to benefit from the crazy positive price surge. Some shady businesses were trying to utilize the opportunity by promoting scam projects which lead to the ban by Facebook. Google, Twitter and Snapchat also banned advert promotions on Cryptocurrency then.
But the cryptocurrency community still has a lot of believers and investors. New Projects springing up too. It’s quite easy to see the reason why Facebook still wants to sell cryptocurrency ads. The industry is rapidly growing with a lot of inventions and innovations in which adverts is a sine qua non. Since Facebook’s users aren’t getting scammed and always notified with warnings on certain adverts before clicking. The company would certainly love to take on the extra advert revenue.