Facebook Reverses Ban on Cryptocurrency Ads, Maintains Ban on ICOs
By Marie Huillet Facebook has updated its policy to allow cryptocurrencies to once again be advertised, while upholding its ban on the promotion of initial coin offerings ( ICOs ), in an announcement published Tuesday, June 26. Today’s announcement says the company has been looking into the best way of “refining” its blanket ban on cryptocurrency-related advertising “over the last few months,” in order to “allow some ads while also working to ensure that they’re safe.” Facebook's revised "prohibited products and services policy" now states: 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. Applicants are instructed to include “any licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public background on their business.” Given these restrictions, Facebook conce...