The world’s largest social media platform said in a blog post on Wednesday that it’s been listening to feedback since it shut down crypto advertising. That led it to assess the policy’s effectiveness, and voila, it had an epiphany. The timing just happens to coincide with the upcoming launch of Facebook’s own stablecoin.
In the post, the company says:
“While we will still require people to apply to run ads promoting cryptocurrency, starting today, we will narrow this policy to no longer require pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency.”
2018: Facebook bans crypto ad’s
2019: Facebook accepts crypto ads pic.twitter.com/yff7uR93bI
— faast (@goFaast) May 8, 2019
From No to That’s a Go
Last June, Facebook began requiring those wishing to advertise crypto products on its platform to first get written approval.
An ad that directs to a landing page featuring a restricted product, such as a cryptocurrency exchange, will still require prior approval. Facebook says:
“Or, if the landing page includes a prohibited product, like an initial coin offering (ICO), we will reject it.”
Referring to something it calls its Prohibited Financial Products and Services policy, the post states that Facebook will no longer allow ads promoting contracts for difference (CFDs), complex financial products that are often associated with predatory behavior.
ICOs fall into this category, and ads for them will continue to be banned.
— tadleer (@tadleer) May 8, 2019
Facebook’s Interesting Timing
This gracious allowance from Facebook comes just as it’s looking for $1 billion to fund its stablecoin project. Called…