The parent company of Facebook and Instagram, Meta, decided to make it easier for marketing companies to disseminate promotional ads about cryptocurrencies on their platforms of their different social networks as regulatory standards in the global field of digital currencies advance.
Previously, marketers to promote any crypto had to comply with a series of requirements, among which the licenses obtained and whether they were listed on public stock exchanges stood out. From now on, the Meta company “will accept an advertisement if the advertisers, whether they are platforms or cryptocurrency portfolios, have one of the 27 eligible regulatory licenses.”
In a communication released by its official blog, the company maintains: “This change will help make our policy more equitable and transparent and will allow a greater number of advertisers, including small businesses, to use our tools and grow their business.”
The company admits that the crypto ecosystem is in full swing and many of these measures may be changing as the industry transforms. In addition, it stressed that the change will not impact advertisers who have already been approved.
The company will continue to request the “prior written approval of advertisers that are cryptocurrency platforms and transaction platforms, companies that engage in crypto assets loans and portfolios with capabilities such as trading or staking (bet) and companies that advertise hardware and software for mining.”
Evolution of cryptocurrency policies
The Meta company’s policies towards advertisements on digital currencies have been drastically altered in recent times, as regulators issued information on measures against malicious actors.
In 2018 Facebook began blocking many ads related to cryptocurrencies, after a series of scams originated by a series of advertisements and where users lost their money. But as of June of that year, the company resumed the acceptance of advertisements that presented prior written approval. In May 2019, “the company began not requiring pre-approval for announcements related to blockchain technology, industry news, education, or crypto events.”