Facebook Relaxes Cryptocurrency Advertising Requirements – Media, Telecoms, IT, Entertainment – United States

In light of the fact that "the cryptocurrency landscape has continued to mature and stabilize in recent years and has seen more government regulations setting clearer rules for its industry," Meta (formerly known as Facebook) Announced which is relaxing its cryptocurrency advertising policies.

Effective December 1, 2021, Meta updated its eligibility criteria to run cryptocurrency ads on Facebook by expanding the number of regulatory licenses it accepts from three to 27. Now, to run cryptocurrency advertising on Facebook, advertisers will simply need to show they have one of these licenses. Facebook said this change "will help make our policy more fair and transparent and allow more advertisers, including small businesses, to use our tools and grow their businesses."

In the United States, this means having an MSB record from FinCEN (from the Financial Crimes Enforcement Network) or a BitLIcense (from the New York State Department of Financial Services).

According to Meta's updated cryptocurrency advertisement politicsTo run cryptocurrency-related advertising on Facebook, the following types of advertisers must have prior written permission:

• Platforms, software applications or products known as cryptocurrency exchanges and trading platforms. Examples include, but are not limited to, spot trading, margin trading, futures trading, or other trading instruments that involve cryptocurrency assets;
• Platforms, software applications or products that offer cryptocurrency loans and loans;
• Cryptocurrency wallets that also allow users to buy, sell, trade, or stake their cryptocurrency tokens; Y
• Hardware and software for cryptocurrency mining.

However, some cryptocurrency-related advertisers are not required to obtain permission to run advertising on Facebook, including advertising of tax services for cryptocurrency companies, events, education and cryptocurrency-related news, blockchain technology news, services and based products. In blockchain technology that are not a virtual currency, such as NFTs, and cryptocurrency wallets that allow users to store tokens without buying, selling, exchanging or betting them.

Meta said: "Cryptocurrency remains an evolving space and we can refine these rules over time as the industry changes."

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