April 1, 2023

More cryptocurrency ads on Facebook and Instagram

More cryptocurrency ads on Facebook and Instagram

Meta has allowed much more crypto and blockchain ads to be posted on Facebook and Instagram.

Updated social media policy expands rightsadvertisers in this area from 3 to 27 regulatory licenses and simplifies the procedure for approving certain categories of services. In particular, without the prior written permission of Meta, it is possible to promote products and services related to blockchain technology, payment methods, education, crypto symbols, as well as thematic events and the media.

Supporting documents will be required for promoting crypto-exchanges and any platforms,related to the trade of digital assets, projects in the field of crypto lending and decentralized finance, cryptocurrency wallets, equipment and software for mining. Over time, the list of eligible licenses will expand and the condition for written permission will be removed.

The company decided to revise the rules becausebelieves that in recent years the crypto industry has made significant progress, has become more stable and largely regulated. This allowed Meta to formulate clearer and more transparent requirements in this area.

Initially in 2018, Facebook banned anyadvertising related to cryptocurrency, but six months later the social network reconsidered its decision and allowed the promotion of certain categories of products for companies from the "white list".