Facebook announces lifting of ban on 'advertising on crypto assets'

On December 1, 2021, Facebook, an SNS operated by Meta, updated the acceptance criteria for advertisements related to crypto assets and announced a policy to handle advertisements from crypto asset companies, which has been prohibited in principle.

Expanding Eligibility to Run Ads About Cryptocurrency | Facebook for Business
https://www.facebook.com/business/news/expanding-eligibility-to-run-ads-about-cryptocurrency

Facebook retreats from crypto ad ban
https://www.cnbc.com/2021/12/01/facebook-ends-ban-on-cryptocurrency-ads.html

Facebook announced a ban on 'advertising that promotes financial products and services that are easily misleading and misleading' in the ad acceptance policy released in January 2018. Both binary options and other options have set out to limit advertising related to crypto assets.

Facebook announces new policy to ban cryptocurrency advertising-GIGAZINE

Facebook has rejected most of the crypto-related ads so far, but announced on December 1 that it will revise its policy and significantly expand the license type for accepting crypto-related ads from 3 to 27. Did. In addition, although it has been evaluated from various angles whether it should be accepted or not, in the future it will be possible to receive approval if even one of the 27 license requirements is met, and there are also screening criteria for ad acceptance. It will be relaxed.

Facebook said the reason for the change was 'in response to the maturity and stability of the crypto asset industry in recent years and the increasing government regulation that clarifies the rules of the industry.' He explained that the enhancement of maintenance led to this deregulation.

The crypto asset industry has welcomed the de facto lifting of the ban on Facebook's crypto asset ad serving. Henry Love, a former Facebook employee and managing partner of Fundamental Labs, an investment firm that specializes in crypto assets at the time of writing, said, 'Cryptocurrency ads are served on Facebook more than ever. If individual investors can get in touch with crypto assets, the range of things that crypto assets companies can do will be expanded, and the entry into the metaverse of the crypto assets industry will be accelerated. This is a big shift. ' I commented.

On the other hand, it has been pointed out that the background to Facebook's sharp softening of its attitude toward crypto assets is the impatience that its crypto assets project is showing a deadlock. On the same day that Facebook announced a change in its crypto asset policy, David Marcus, who had been responsible for Meta's own crypto asset Diem and Novi for Digital Wallet, announced on Twitter that he would resign later this year.

Personal news: after a fulfilling seven years at Meta, I've made the difficult decision to step down and leave the company at the end of this year. (1/7)

— David Marcus (@davidmarcus) November 30, 2021

Regarding the future of cryptocurrency advertising, Facebook said, 'We will continue to eliminate harmful advertisements that violate our rules or cause misunderstandings.' The change will make our policy more fair and transparent, allowing many advertisers, including small businesses, to grow their business through our services. ' ..