Facebook loosened up on cryptocurrencies

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Facebook team has just made an announcement about their policy regarding cryptocurrencies and their ban for promoting them on the social network.

The ban on the promotion of the ICO remains in force. 

Facebook has made some changes to the policy of the social platform, according to which the ban on the promotion of cryptocurrency is removed, while the advertisement of the initial offer of coins, better known as ICO, still falls under the global ban.

According to the statement of the Facebook team, dated June 26th, the last few months the company has been studying the issue of promoting the cryptocurrency, in order to weaken the existing ban on advertising of digital assets and ensure the security of investors and cryptocurrency enthusiasts. Thus, under the terms of the new policy of Facebook from June 26th, the company allows the distribution of advertising content related to cryptocurrencies, but it still prohibits advertising of binary options and ICO.

Advertisers who plan to advertise advertisements for cryptocurrency products or services must apply to get permission from the Facebook team to distribute it on the social network. The applicant transfers not only information about advertising content as such, but also his license, regardless of whether these products are sold on exchanges or not, and other documents confirming the legality of the subject’s activities.

Of course, Facebook may also reconsider its policy in relation to cryptocurrencies in the near future, relying on the problems that will arise in working with advertisers, and feedback from users and stakeholders.