Facebook and Instagram will now have a revised crypto advertising policy, but the ban on crypto ads is far from lifted. As per updates from parent company Meta, crypto firms no longer need to produce proof of stock exchange listing to run ads. However, they still have to meet any of the 24 new licenses listed.
According to Meta, the company will now only examine relevant cryptocurrency licenses before allowing a firm to run crypto ads. Earlier, these firms had to produce more licenses and proof of stock exchange listing. That left many firms unable to run advertisements on Facebook. Being the largest social media platform, not being able to show ads on Facebook was a big disadvantage for many firms. With the revised policies, many of these firms are now eligible to market their products and services on Facebook.
However, the crypto ad ban is still very much in place on Facebook and Instagram. Even with the revised policies, many firms will still be unable to run their ads on Facebook. It might change in the future with more revisions, but the present change is only slightly better than the earlier policies.
Crypto advertisements have attracted scrutiny and censure from various authorities in the past. In the UK, there was a petition by a member of Parliament to ban crypto ads in subways. Similarly, the Indian prime minister also asked crypto firms to stay away from aggressive marketing. As per updates and developments, this trend will continue for much longer.