Facebook raises cryptocurrency ads, keeps ban for ICO ads

 In an announcement published Tuesday, June 26, Facebook stated it has updated its policy to allow cryptocurrencies to once again be advertised, while upholding its ban on the promotion of initial coin offerings (ICOs).

Facebook’s revised “prohibited products and services policy” now states: “Starting June 26, we’ll […] allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings.”

Some restrictions apply, meaning that not everyone who will want to publish cryptocurrency ads will be able to do so. The newly updated policy requires advertisers wanting to run ads for cryptocurrency products and services to submit an application to allow Facebook to assess their eligibility. By doing this, the company aims to filter the ads and display only the ones belonging to advertisers with relevant background.

On the other hand, details regarding the future of ICO ads have not been given yet.

The initial ban was introduced by Facebook in January 2018 in an attempt to prevent “ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices.”