Mark Weaden
Meta has decided to relax its policies regarding cryptocurrency adverts
Mark Zuckerburg brought us the announcement of the shift to Meta, with a video epic that lasted over an hour. While the video was fairly comprehensive, it did some things for interpretation, as we are yet to see how everything will be incorporated into everyday life.
The Meta project hasn’t hidden it’s intentions to develop a native cryptocurrency, as well as incorporating the full range of digital currencies. The announcement that it would now be expanding the number of licenses it accepts, jumping from 3 to 27. As well as that, they published a list of eligible licenses on their policy page.
What does the change mean?
Meta Platforms Inc. is making it easier for companies to run ads related to cryptocurrency on its services. It seems like a smart move to facilitate the integration of cryptocurrency, which is exactly what this move will do.
Advertisers are able to submit an application for a campaign with the aim of running ads that include information featuring licenses they’ve obtained. The aim to expand the number of licenses it accepts from 3 to 27 owns up many opportunities for crypto businesses.
Meta had this to say about the change of policy; “We’re doing this because the cryptocurrency landscape has continued to mature and stabilize in recent years and has seen more government regulations that are setting clearer rules for their industry.”
Those advertisers who already have campaigns approved will be able to continue running campaigns as before. The list of products and services that need pre-approval also won’t be impacted.
Facebook’s past with crypto ads
Cryptocurrency ads have been a controversial subject the world over, with recent changes made to policy regarding crypto ads in London. Facebook has similarly had issues, banning ads back in 2018 before retreating on that decision to some degree just a year later. The previous ban did not allow start-ups and crypto businesses to promote their products on social media.
But, the new direction of the company is clear. While the focus is clear, the loss of Meta’s cryptocurrency project David Marcus intends to leave the company by the end of the year, which is certainly a bit of a setback.
