The updated advertising policy came into force on June 26. At the same time there is no question about lifting of the ban on ICO advertising.
Today the popular social network Facebook again updated its advertising policy allowing the ads of cryptocurrencies on its platform. The ban on ICO advertising that remains a dubious financial instrument from the point of view of many regulators remains in force. Nevertheless, it is very good news for the entire cryptocurrency community. An absolute ban on advertising of all cryptocurrency projects and «misleading or deceptive promotional practices » that also include all kinds of derivatives on Facebook contributed a lot to the market collapse in January this year.
Today's announcement says that the company is in the search of the best way to convert its total ban on advertising of everything connected with cryptocurrency that has been in effect for the past few months «to allow some ads while also working to ensure that they’re safe [for users]».
The revised Facebook policy on banned advertising products and services says:
«Starting June 26, we’ll be updating our policy to 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 (ICO)».
The updated policy requires from the advertisers wishing to place the advertising of cryptocurrency products and services to apply for review in order to allow Facebook to assess their legality. It is recommended to include in the application «any licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public background on their business».
Given this limitation it is worth acknowledging that not everyone who wants to advertise their crypto-products on Facebook will be able to do it. The management of the social network declares that it is ready for dialogue and «if necessary» will revise its policy with the passage of time.
The announcement also says that Facebook will continue to research the blockchain technology that is the basis of cryptocurrencies. At the same time, it emphasizes that the initial advertising policy was deliberately broad and liberal to give the company time to train the ways of detecting and preventing the unfair promotion of goods and services.
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