Facebook has announced the easing of its tough rules for advertising cryptocurrencies in an official blog post.
Titled “Updating our ad policies for financial services and products” and dated May 9, the post reveals that as a result of Facebook community feedback on the last June’s toughening of the cryptocurrency products advertising rules, the platform will no longer require a prior written approval for ads related to “blockchain technology, industry news, education or events related to cryptocurrency”. The approval requirement remains in place for ads promoting cryptocurrencies.
According to the post, Facebook’s ban on ads for initial coin offerings (ICOs) and binary options continues as “these products, due to their complexity, often mislead people,” and is extended to include promotion of contracts for different complex financial products (CFDs) “that are often associated with predatory behavior.” The company’s Prohibited Financial Products and Services will be updated on June 5.
As per the platform’s Advertising Policies and Community Standards, prior approval will be required for ads that direct people to a landing page that features a restricted product, such as a cryptocurrency exchange, while ad links pointing to landing pages with a prohibited product, such as ICOs, will be rejected.