Facebook to ease on the advertising ban targeting financial products, now allows non-ICO cryptocurrency ads again

Facebook has just announced that it is planning to ease the advertising ban that is targeting financial products in an official press release by Rob Leathern, Facebook’s Product Management Director.

Facebook banned all financial product advertisements back in January, this included binary option, cryptocurrency and initial coin offering advertisements. The reasoning was that the company wanted to protect users from malicious money grabs.

Now biggest social media network has decided to re-enable part of the restricted advertisement categories as pre-approved advertisers are again allowed to submit cryptocurrency related content, but initial coin offerings are still banned. This means that projects will be able to advertise only after they are out of the fundraising and are available on exchanges.

Submission will go through a form that will allow Facebook to assess eligibility through a review where they will check for licenses and legality status.

This doesn’t seem as a random decision especially after the company has been losing out on a lot of revenue thanks to the data privacy scandal that has surfaced later this year.

We hope that Google will revisit their ideas as well since they have banned all crypto related advertisements starting from June this year.

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