Facebook is reversing its ban on cryptocurrency advertisements and will now allow some preapproved advertisers to promote crypto businesses and services, like exchanges.
Facebook banned all crypto ads on the service back in January, around the height of the bitcoin price surge, to prevent people from promoting “financial products and services frequently associated with misleading or deceptive promotional practices.”
Now, advertisers that are approved by Facebook through an application process can promote crypto products, though ads promoting binary options and ICOs, initial coin offerings, are still banned. Interested advertisers may have to show Facebook “licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public background on their business” in order to receive permission to run crypto ads.