Last year, Facebook had rolled out a policy to require cryptocurrency advertisers to get written approvals before publishing ad campaign on the platform. On Wednesday, Facebook reversed its policy, and started accepting crypto ads. In the blog post, Facebook has stated, “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.”
In January 2018, Facebook initiated a complete ban on cryptocurrency and blockchain related ads. It later allowed for some relaxations in the ban, allowing pre-approved ads to be shown on the site. In the latest blog post, Facebook clarified that it no longer requires pre-approval on the ads. Facebook is probably making these alterations to accommodate its internal
According to Facebook’s Advertising Policies and Community Standards, cryptocurrency products and services such as ICO offerings and others fall under the prohibited category. Restricted content will still require pre-approval, which includes review process.
According to Crypto analysts the launch of currency within a social network will ultimately be a boon for bitcoin and other digital assets. It is possible that Facebook’s Stablecoin could end up directly in competition with the US dollar, considering the massive reach of this social network.