Facebook Removes Advertising Ban on Cryptocurrency
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Facebook announced its decision to remove a ban that prevented cryptocurrency companies from running ads on its service
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This comes after the social media company tried to launch a cryptocurrency for funds transfer but failed
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The company’s new policy means that more people will have access to cryptocurrency and crypto-related news
On Wednesday, Facebook announced a decision to remove a ban that prevented most cryptocurrencies from running ads on its platform.
The move comes only after the company now known as Meta tried to launch a cryptocurrency for sending money online but failed.
Previously, users who wanted to submit an ad application add include information about whether they were traded on a public stock exchange and other relevant data about their business.
Based on its latest update, the company will now expand the number of regulatory licenses it accepts to 27 from 3 which it was previously.
A portion of the statement released by the company states:
“We’re doing this because 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,”
Read also: Twitter Bans Illegal Image Sharing
Facebook issued its ban on cryptocurrency ads in January 2018 before it was slightly modified in 2019.
It is expected that the removal of the an will help cryptocurrency companies promote their products and reach more potential customers.
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