As the latest news about the cryptocurrency sector reports, the technology holding Meta has revoked a ban on crypto advertisements. The promotion of digital currency exchanges, crypto wallets, and any crypto-related companies will once again be permitted on all Meta’s platforms – Facebook, Instagram, and WhatsApp.
On December 1, Meta has updated its ads policy, easing strict rules on digital currency commercials. Earlier, only crypto companies licensed by three selected regulatory bodies could apply to advertise their services on any of Facebook’s platforms. Now, however, Meta recognizes 24 more licenses as eligible, increasing the total license number to 27.
Meta brings back crypto ads after an almost 4-year ban
Facebook enforced the crypto ad ban in January 2018, aiming to discourage start-ups from promoting initial coin offerings (ICO) as the practice was investigated by the US regulators. At the time, Facebook, Instagram, and WhatsApp didn’t allow adverts of crypto exchanges, digital currency wallets, trading websites, hardware for mining, or any cryptocurrency firms.
However, now Meta believes that the cryptocurrency market has evolved and stabilized. And as the regulatory framework for the crypto sector is being rolled out in the US, the company has allowed crypto ads on social media platforms once again.
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