It seems Facebook is backpedaling on its blanket ban over cryptocurrency advertisements, in a stark reversal from its previous stance.
No wooden nickels
Having put an end to cryptocurrency ads as far back as January, Facebook is pivoting to allow crypto ads from pre-approved advertisers in certain circumstances.
Originally, Facebook considered ads regarding coin offerings, cryptocurrency, and even binary options as “frequently associated with misleading or deceptive promotional practices.”
The new vetting process will sort credible cryptocurrencies from the undesirables, and promote a limited amount of crypto-products.
The future of currency
Potential advertisers must submit an application to help with the assessment of their eligibility, including but not limited to licenses obtained and public stock exchange info.
According to Rob Leathern, Product Manager of Facebook, the platform had always planned to revisit the ban and reassess crypto viability.
Google and Twitter announced bans on cryptocurrency back in March, meanwhile Microsoft has been allowing the currency all along. With Facebook changing its tune, the tide could be turning.
Do you think the tide is turning in favour of cryptocurrency? Do you think Google and Twitter will follow suit? Give us your thoughts in the comment section below.