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Facebook lifts ban on crypto ads By BTC Peers

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© Reuters Facebook lifts ban on crypto ads

Facebook (NASDAQ :), now Meta, decided that it would be easier for cryptocurrency platforms to post their ads on its social media platform. This was done by lifting an earlier ban against crypto ads.

An official blog post was published by social media company, Facebook earlier in the week.

For some time, Facebook has been active in crypto-space. The crypto-space metaverse was ignited by the Meta rebranding of Facebook.

Although CEO Mark Zuckerberg has shown a long-time intent in building something much more than a social media platform, there hasn’t been much progress on this front. The company’s piloted wallet project, Novi, and its unreleased crypto project Diem(a rebrand of Libra) have both been opposed by U.S. congressional representatives.

The company was also informed by the pilot program creator that he would not be returning.

The lifting of this ban shows that Meta still wants to push its crypto engagement up to a certain point. Meta used to require crypto marketers that they submit applications with licenses and public stock listing information. With the changes, it will be possible to promote on the platform for cryptocurrency exchanges or wallets as long as they only have one of the 27 potential regulatory licenses.

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