Facebook lifts ban on crypto ads

Facebook lifts ban on crypto ads

Facebook, now known as Meta, has decided to make it easier for crypto platforms to run their advertisements on its social media platform by lifting an earlier ban on crypto ads.

The social media giant made the announcement via an official blog post earlier this week.

Facebook has been very active in the crypto space for some time now. It rebranded to Meta last month, sparking a metaverse extravaganza in the crypto space.

Although CEO Mark Zuckerberg has shown a long-time intent in building something much more than a social media platform, there hasn’t been much progress on this front.  The company’s piloted wallet project, Novi, and its unreleased crypto project Diem(a rebrand of Libra) have both been opposed by U.S. congressional representatives.

Adding to the setback, the creator of the aforementioned pilot program informed the company that he would be leaving.

Nevertheless, the lifting of the ban indicates that Meta is still interested in pushing its crypto engagement to a certain level. In the past, Meta required crypto marketers to submit an application that included any licenses, public stock listings, and other detailed information. However, the new changes will make it possible for crypto exchanges and wallets to advertise on the platform as long they possess just 1 of a potential 27 regulatory licenses.

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