Brace yourselves, Facebook is lifting the flood gates to allow more crypto ads
The company has increased the number of licenses it accepts from three to 27.
Facebook has decided to fall back on its strict stance on cryptocurrency advertisements on its platform. The social media giant has decided to make it much easier for crypto companies to advertise by greatly expanding on the number of regulatory licenses that it accepts.
This new change to Facebook’s policies came just this week, with an announcement on the platform’s website. The platform says that “the cryptocurrency landscape has continued to mature and stabilize in recent years and has seen more government regulations that are setting clearer rules for their industry.”
As a result of that increased regulation, Facebook has decided to change the way it accepts cryptocurrency advertisements. Previously, the platform only accepted three different regulatory licenses. Now, that number has jumped up to 27.
Get ready to start seeing a lot more crypto ads on Facebook
The platform isn’t just increasing the number of regulatory licenses that it accepts. Facebook is also removing some of the other limitations that it previously had in place for crypto ads. Advertisers used to have to submit an application with additional information, like relevant public background on their business and whether or not they were traded publicly.
Now, the company is leaving everything up to the regulatory licenses. Advertisers will no longer have to submit all of that extra information. Instead, the company will start requiring one of those 27 licenses.
This change comes at an interesting time, considering that Meta, the new name for Facebook’s parent company, just announced that its crypto chief was leaving the company. Nevertheless, this change will almost certainly bring the crypto market to more consumers than ever before.
If you thought you were already seeing way too much crypto advertising on the internet, just wait until these companies start taking advantage of Facebook’s new policy.
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