Facebook will begin to accept ads for cryptos, but only by trusted and approved advertisers.
In January, Facebook announced that it would no longer ban ads for all encryption, with the exception of saying that businesses offering such digital coins “were often associated with misleading and fraudulent advertising practices.” However, Facebook now seems to be revising this view by turning 180 degrees.
Beginning today, Facebook will now allow certain advertisements that promote encryption and content related to them. Advertisers must first apply to the platform where they need to provide a link to their site section and provide more information about their business, regulatory permits they hold and whether their company is listed on any stock market.
Advertisers must also comply with the terms and conditions of the “Cryptocurrency Ads Addendum” established by the social media giant. The addition indicates that “your eligibility to display ads for cryptographic copies may be subject to such terms and limitations as established by Facebook and may be revoked at any time, with or without notice, and prompting companies to immediately Facebook to show the appropriate cooperation and assistance in case of any regulatory inquiry or legal action.
In a blog post, Facebook’s product manager, Rob Leathern, underlined that when Facebook initially announced the ban on banner advertising in January, to eliminate misleading advertising practices that are essentially against many ethical issues.
Facebook’s revised attitude to ads is no accident at all, as it completely changes the philosophy of this issue. Last April, the company announced that it would begin to verify the identity of large page managers and those who want to display political ads, requiring them to send a copy of their identity card and verify their postal address.