In an effort to combat scams, Facebook ad policy has not allowed any ads related to cryptocurrencies or ICOs since the beginning of February 2018. Back then, Rob Leathern, the Product Management Director of the platform hinted that Facebook may modify the new policy at some point to allow bona fide crypto-related businesses to advertise again
With the new announcement comes today, Facebook is updating their policy and will start to allow cryptocurrency related ads from approved sources.
However, the announcement says clearly that ICOs are still not allowed.
“So starting June 26, we’ll be updating our policy to allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings.”
Now, advertisers must fill an application form for Facebook to confirm the eligibility of the ad and declare what kind of content (cryptocurrency product and services, education, or industry news) they are advertising as well as provide their business details.
Earlier in April, Martin Lewis, an English journalist, and money-saving expert accused Facebook of scam Cryptocurrency Ads.
By Nadya Astam