Social network giant rescinds cryptocurrency ad ban, but there are caveats

28/06/2018: Facebook drops cryptocurrency ad ban

In a short time, Facebook changed its mind regarding the ban about cryptocurrencies. Now Facebook permits again ads running on the social network and it rescinded cryptocurrency ad ban.

Very soon Facebook will permit again the promotion of cryptocurrency products, changing the resolution to block the ads.

Facebook declared that advertisers that want to post on the social network must apply to help the eligibility of Facebook. Here are also included the licenses, the space where they are traded, if it is public or not, and other relevant aspect is the public background of the business.

Can Facebook live without Bitcoin ads?

“Given these restrictions, not everyone who wants to advertise will be able to do so. 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,” said Rob Leathern, product management director at Facebook.

 

Facebook took the decision to ban the cryptocurrency ads in January. In January, Facebook thought that too many companies were “not currently operating in good faith“. Facebook declared additionally that the ban was “intentionally broad”.

It is true that Facebook annulled the banning on ads related with cryptocurrencies, but it is still banning the ads about binary options and the initial coin offerings(ICOs). Facebook stated that the users of the social network should report the ads that infringe the Advertising Policies. You can report the unappropriated content by clicking the “report ad” button from the right corner of any advertisement.

Bitcoin has suffered a fall in price after Facebook has banned the ads with cryptocurrencies. The Bitcoin could go down further to $5,000 before summer ends. This is a declaration of “Express”, due to more regulations in Japan and other hacking of some exchanges in Europe.