Facebook has updated its eligibility criteria for running crypto-related ads by expanding the number of regulatory licenses from 3 to 27. The social network giant said in an announcement the decision has been made because the cryptocurrency landscape has matured and stabilized and "experienced an increase in government regulation."
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"This change will help make our policy more equitable and transparent and allow for a greater number of advertisers, including small businesses, to use our tools and grow their business," Facebook claims.
However, Facebook will continue to require prior written permission for cryptocurrency exchanges, cryptocurrency lending and borrowing services, wallets and mining software providers. The social network notes it may refine the rules over time as the industry continues to be an evolving space.
In August this year, Google also allowed cryptocurrency ads on its platform. According to the new policy, advertisers offering cryptocurrency exchange and wallet services can again promote their products on Google. The company banned all ads related to cryptocurrencies and ICOs in June 2018.
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