Social media and metaverse marketplace Meta has reportedly widened the scope of its eligibility requirements for crypto-related promotions on Facebook, offering firms more freedom in advertising digital asset product offerings.
Specifically, Meta reportedly issued official announcements on December 1st which took effect instantly, regarding its recognition of 27 regulatory licenses from advertisers, going from the previous three.
This development will reportedly lead to the number of applications being able to execute crypto promotions will reportedly go up.
These adjustments have reportedly been included in section 10 of Facebook’s updated advertising policy called “Cryptocurrency Products and Services.”
Prior to the adjustment, only a few selected firms in the crypto sphere were eligible to run advertisements on Facebook, due to the social platform only accepting a number of particular regulatory licenses.
Per the updated policy, these crypto offerings and services down here will be able to obtain written permission to operate promotions on Facebook:
- Cryptocurrency exchanges and trading platforms
- Cryptocurrency lending and borrowing services
- Cryptocurrency wallet
- Cryptocurrency mining infrastructure
Furthermore, products and services associated with blockchain crypto news, education, payment methods, and merchandise are available for running promotions without acquiring written permission. Instagram will also be subjected to the adjustments, per a Meta representative.
“[O] ver the years the cryptocurrency landscape has matured and stabilized and experienced an increase in government regulation, which has helped to set clearer responsibilities and expectations for the industry. Going forward, we will be moving away from using a variety of signals to confirm eligibility and instead requiring one of these 27 licenses.”
