Facebook banned ads that promote binary options, initial coin offerings, and cryptocurrency in January as part of an effort to rid its platform of deceptive content. The company also pledged to review the policy and how it is implemented as Facebook improves the way it detects these kind of ads. Now Facebook is easing that prohibition.
Rob Leathern, Product Management Director at Facebook, announced that the social media company has begun allowing eligible advertisers to run ads for cryptocurrency products and services on its platform.
In order to be approved, advertisers are required to fill out an online application form and submit the necessary requirements. These include "any licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public backgrounds on their business," Facebook says.
While Facebook continues to ban binary options and initial coin offerings ads, the company vows to listen to feedback and refine the policy in the future.