Meta has finally ended its ban on cryptocurrency ads and has introduced a statement that acknowledges that the company will now accept 27 regulatory licenses. With this announcement, Meta is reversing its previous policy that prohibited companies from running crypto ads on the social networking website Facebook.
Meta It was later revealed it had earlier banned that the ban on running crypto ads on Facebook was imposed to prevent the spread of false information among its users. It further added that people.
Moreover, it was reported that Facebook wanted to prevent people from getting scammed by enticing offers of Initial Coin Offerings (IconsICOs) and deceitful cryptocurrency exchanges/deals.
Facebook to run crypto ads
In a note titled “Expanding Eligibility to Run Ads About Cryptocurrency,” the organization discussed how the cryptocurrency ecosystem has matured and stabilized over the years.
“We’re doing this because the cryptocurrency landscape has continued to mature and stabilize in recent years and has seen more government regulations that are setting clearer rules for their industry,” the note read
“These changes will help to make our policy in this space more equitable and transparent and help more advertisers, including small businesses, grow their audiences and reach more potential customers,” the note added.
Meta has greatly softened its stance on crypto ads and is all set to accept 27 regulatory licenses in a bid to expand its network. Advertisers will still, however, be required to submit their written applications seeking permission to run ads on cryptocurrency.
The recent change has already been met with positive feedback from the crypto community.
Meanwhile, some say the new policy change is expected to spark the new interest of retail investors towards Meta which may help the organization secure more stable revenue and earnings.
Henry Love, a former employee on Facebook’s business team said the company’s new policy is a huge opportunity for the crypto industry that will allow more retail investors to invest their stake in, and at the same time will help endorse crypto business without any additional intervention
Featuring a summary of the most important daily stories in the world of crypto, DeFi, NFTs and more.
Get an edge on the cryptoasset market
Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.
Join now for $19/month Explore all benefits