Cryptocurrency Advertising Ban Lifted By Facebook – Pre-Approval Now Requiredbr>
Facebook has lifted its ban on cryptocurrency advertising, a major victory for new companies in the nascent industry. The ban was instituted in January because the company feared “misleading and deceptive promotional practices.”
That ban ironically arrived at a time when Facebook itself was under fire for privacy concerns and misleading the public on how and when its data was shared, leading to a Congressional hearing.
In a blog post Tuesday, Facebook executive Rob Leathern said Facebook would start allowing pre-approved advertisers to promote cryptocurrencies and some related content, but would still block ads for binary options and initial coin offerings.
“Given these restrictions, not everyone who wants to advertise will be able to do so,” Leathern wrote. “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.”