Even Mark Zuckerberg can’t hold back the cryptocurrency tide. Facebook has announced it will reverse its ban and now allow some preapproved advertisers, such as cryptocurrency exchanges, to promote their services.
Facebook banned all crypto ads back in January, when bitcoin’s (BTC) price was surging, to prevent the promotion of “financial products and services frequently associated with misleading or deceptive promotional practices,” Recode said.
That was then. Now bitcoin is no longer surging. But there could be other reasons why Facebook changed positions. Maybe its new blockchain team, announced in May, added some insights. Or maybe things have moved further along in the development of a Facebook cryptocurrency.
Whatever the reason, advertisers that make it through Facebook’s application process can promote crypto products, but not binary options and ICOs. These are still banned. Read more here.