Facebook has announced that it will be easing restrictions on cryptocurrency and blockchain-related advertising. The company had banned cryptocurrency and initial coin offering ads in January 2018, citing concerns about potential advertising scams. This latest move comes on the heels of last June’s decision to allow some advertising for advertisers who obtain written pre-approval from the company.
The new policy changes are not a complete end to all restrictions, however. The company noted in an online announcement that the approval requirement will still apply to ads that promote cryptocurrencies:
While we will still require people to apply to run ads promoting cryptocurrency, starting today, we will narrow this policy to no longer require pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency.
Under the revised policy, ads that feature cryptocurrency exchanges, mining products, or cryptocurrency will still require prior approval from Facebook by going through Facebook’s advertising review process:
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.
The ban will remain in full effect for advertising related to Initial coin offerings (ICOs).