Sunday, October 25, 2020

Facebook Walking Back on Cryptocurrency Ad Ban

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Pesach Lattin
Pesach Lattinhttp://pacevegas.com
Pesach "Pace" Lattin is one of the top experts in interactive advertising, affiliate marketing. Pace Lattin is known for his dedication to ethics in marketing, and focus on compliance and fraud in the industry, and has written numerous articles for publications from MediaPost, ClickZ, ADOTAS and his own blogs.

Not long ago we wrote about Facebook’s announcement that they will no longer allow advertisements for cryptocurrency and other blockchain based coins and companies. Well, they are apparently walking this decision back and will allow it, at least in certain cases.

The company has confirmed that they will maintain the ban on initial coin offerings (ICOs), but other more well-established options will be able to advertise on the social network.

On Facebook’s Cryptocurrency product onboarding request form, they say, “Eligibility may be subject to such conditions and restrictions as Facebook may decide.” While vague, this is certainly a long way from an outright ban.

In the announcement Facebook claims that their initial ban was intentionally broad so that they could start from a very strict place, and work forward from there to ensure their users were protected. Given the popularity of Bitcoin and other cryptos, it is really no surprise that Facebook is going to want to get the revenue that will follow these ads.

There are also rumors that Facebook is looking to get into the crypto world. Some people believe that Facebook is looking to buy the very popular CoinBase platform. Others think that Facebook will be starting their own exchange, and still others think Facebook will start its own currency. Whether any of these are true at all remains to be seen, but at least they are opening their ad platform up to crypto related ads going forward.

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