Facebook Crypto Ban is finally starting to see some easing. After a year of outright banning crypto and blockchain-related ads, they’re beginning to lift restrictions on them.
On May 8th, the social media company said ads involving blockchain technology, industry news, educational content, or events related to cryptocurrency will no longer require prior written approval.
However, Facebook will continue to ban ads related to token sales or initial coin offerings (ICOs), which will fall under their list of prohibited products.
Cryptocurrency exchanges and mining software and hardware will still need to go through a review process to get permission to go live on Facebook ads.
“This process will continue to take into account licenses they have obtained, whether they are traded on a public stock exchange (or are a subsidiary of a public company) and other relevant public background on their business,” Facebook said.
The company has 2.38 billion active monthly users as of this month. Facebook banned ads involving bitcoin and ICOs in January of 2018. Last June, Facebook eased its ban somewhat, allowing some companies to get certain types of ads approved for Facebook without prior permission.
This comes at a time when Facebook is actively pursuing its own fiat-backed cryptocurrency/stablecoin. Facebook is said to be in talks with payment processors like Visa and MasterCard to support and fund the planned $1 billion stablecoin project dubbed “Libra”.
The purpose of Libra is to enable billions of users to send money to each other, make online purchases, and pay for Facebook ads with the crypto. What do you think? Will this continue to help the bulls? Let us know on our Facebook page!