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Last January, Facebook announced the ban on cryptocurrency-related advertising on its platform, a decision that was quickly taken over by Google. Now Facebook is partially reversing its ban.
The advertising and social media giant will always seek to block ads that favor initial offerings and binary options – just as many scams and risky bets – but it will once again accept crypto ads. currencies, and "Related Content".
However, Facebook's product management director, Rob Leathern, said in a blog post on Tuesday that advertisers will have to be approved first.
"Advertisers wishing to display ads for cryptocurrency products and services must submit an application to help us assess their eligibility, including the licenses they have obtained, negotiated on a public purse or in other relevant public contexts. Given these restrictions, anyone who wants to advertise will not be able to do so, "he wrote.
It is probably important to note that Facebook is working on its own cryptocurrency to facilitate exchanges between users.
In any case, Facebook has never fully succeeded in enforcing its ban. First of all, there was a problem with advertisers getting their ads across the filters using deliberate spelling mistakes such as "bitc0in" for Bitcoin.
It is not uncommon to see fraudulent ads on the platform stating, for example, that Sweden has adopted cryptocurrency as the second national currency and that you should really join it right now. (If it needs to be said, it's baloney.)
It was therefore not surprising to see Leathern add at the end of his article: "It is important that we continue to help prevent or suppress misleading advertising for these products and services. We encourage you to continue to report content that violates our advertising policies by selecting "Report Ad" in the top right corner of any advertisement. "
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