Facebook Lifting Its Blanket Ban on Cryptocurrency Ads. But Why?

Finally Facebook going to lift its blanket ban from Cryptocurrency ads which was implemented in the month of January. After evaluating all aspects of Cryptocurrency, Facebook decided to allow some crypto ads.

What changed now?

Now, an advertiser needs to submit a request form with all business details & type of content to be promoted on Facebook. Company updated their “prohibited financial products and services policy.”

"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."

Which Crpto Ads are Allowed? 

Facebook’s Product Management Director, Rob Leathern clarified that all crypto ads are not allowed under this policy change. So there are some of the ads which will be allowed. He further adds that they will listen to the feedback on this policy change & can revise it over time, if it works well.

"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 background on their business."

There are 6 questions on this form: 

1. why are you applying?
2. Do you have Facebook Ad Account ID?
3. Provide your website domain and business details such as any licenses or regulatory certification the business holds, and if the business is a public company listed on a stock exchange.
4. Provide your business information including an address.
5. Give a brief description of products or services or other crypto-related content the site intends to promote.
6. Are you agree to the “Facebook Cryptocurrency Ads Addendum.”

Now the question is why Facebook is lifting its ban from Crypto Ads. Kindly share your views in comments section.