With the rumors of Facebook Coin now shaping up to be reality, the social media giant has apparently softened its stance towards its ban on cryptocurrency related advertisements on its platform.
Yesterday, the company released a new blog post that claims it has been aware of the feedback and had been making considerations ever since it clamped down on crypto advertising.
While it insists that this has led to an assessment of the effectiveness and appropriateness of the policy, it does seem timely that the post is a prelude to its own launch of a new Facebook stablecoin. The post read:
“While we will still require people to apply to run ads promoting cryptocurrency, starting today, we will narrow this policy to no longer require pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency.”
Last year in June, Facebook began cracking down on ads related to crypto, targeting initial coin offerings in particular. Under its so-called Prohibited Financial Products and Services policy, it outlawed ads promoting contracts for difference (CFDs), under which ICOs fall under.
This doesn’t mean that the chains are off, however. Facebook reminds that its newly adjusted policy will still seek to prevent misleading advertising:
“Because of this, people who want to promote cryptocurrency and closely related products like cryptocurrency exchanges and mining software and hardware, will still have to go through a review process.”
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