Facebook is about to release its own crypto. In the meanwhile, it is also adjusting its policies of advertising, following which others who want to advertise to promote their cryptocurrencies will once again be able to do so using Facebook.
According to Facebook, permission to advertise on their website is the result of the heavy feedback they received after they put a ban on the advertising of crypto. And is not specifically related to its own launch of its own stable coin.
Thought advertisers still have to apply to advertise related to cryptocurrency. However, the condition of pre-approval of such ads will be removed, which was imposed in June the previous year.
However, an advertisement that directs to a landing page of a restricted product will still require prior approval and can reject it if has a banned product.
Furthermore, Facebook says advertisements related to contract for difference (CFDs), such as initial coin offers (ICO), that are of exploitative nature will not be permitted.
All this, according to the Facebook authorities coincidentally, coincides with the search of Facebook for a one billion dollar ($1B) fund for its own project, named Libra project. A media platform reported that Facebook is negotiating with big organizations like VISA and MasterCard for this purpose.
The project Libra was meant to be an easy way for its WhatsApp users to transfer money. But now has a much larger scope and includes, payments for reviewing ads, a means to shop online and a means for e-commerce and not just for Facebook.
Facebook is still on the stance that it will not allow any advertisement in financial areas that would misguide its users. Owing to this, promoters of cryptocurrency will still have to face the reviewing.