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Facebook appears to have loosened their restrictions on Cryptocurrency and ICO space, at least for a lucky few pre-approved platforms and exchanges. Facebook is recognizing the fact these are seemingly regulated securities and thus quite similar to other investment offers.
Back in last January, Facebook strives to ban advertising of all cryptocurrency-related on their platform in an attempt to protect naïve social media operators from declining victim to the scams running rampant in the industry.
Globally reputed advertisers, such as, Google, Twitter etc have also been in the anti-crypto movement and prohibits cryptocurrency ads at their network, while Rob Leathern, Product Management Director at Facebook, stated that they came up with the latest policy that bans ads to promote financial services that are often connected with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.
But, Facebook stated “So starting June 26, we’ll be updating our policy to allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings.
Advertisers wanting to run ads for cryptocurrency products and services must submit an application to help us assess their eligibility — including any licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public backgrounds on their business. Given these restrictions, not everyone who wants to advertise will be able to do so. But we’ll listen to feedback, look at how well this policy works and continue to study this technology so that, if necessary, we can revise it over time.”
This news is perceived as a constructive for ICOs, the reality remains quite different. Facebook’s word match ad review process was quite simple to circumnavigate. That will probably not change. Courtesy: FB website, crowdfundinsider source.
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