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Facebook lifts ban on crypto ads



Facebook, now known as Meta, has decided to make it easier for crypto platforms to serve ads on its social media platform by lifting a previous ban on crypto ads.

Meta announced its decision to change its policy of preventing crypto ads on its platforms. Meta has long had a policy that forbids crypto companies to advertise on their services.

According to the announcement, Meta said it is expanding “the right to display ads about cryptocurrencies” on Facebook and Instagram. This means that as a result, many crypto companies will be able to market their product offerings. In the long term, the decision will help bring the digital asset product offerings to more people.

Still, the lifting of the ban suggests that Meta remains interested in increasing its crypto exposure to certain levels. In the past, Meta required crypto marketers to submit an application that included all licenses, public listings, and other detailed information.

Going forward, the company will increase the number of government licenses it accepts from 3 to 27, the company said in a statement:

"We are doing this because the cryptocurrency landscape has matured and stabilized in recent years, and because there are more government regulations that set clearer rules for the industry."

Since January 2018, cryptocurrencies have been banned on the platform, but in 2019 the company relaxed the ban a bit, but made sure that the startups in the industry could not use Facebook or Instagram for their advertising. Meta added:

“Cryptocurrency is a developing area and we can refine these rules over time as the industry changes. This includes adding appropriate licenses to the list as they become available and after we have reviewed them. "

Facebook has been very active in the crypto space for some time. Last month it was renamed Meta, sparking Metaverse interest in the crypto space.

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