Facebook eases their ban on Crypto related ads....but there is a catch!

in facebook •  15 days ago

Having read that Facebook was easing their ban on Crypto related ads, I decided it was a good time to try and promote this website again via Facebook...and I was denied...again. When I received my rejection notice, I was given an opportunity to appeal which basically amounted to me providing personal information verifying that I reviewed Facebook's addendum regarding Cryptocurrency related ads, below is that addendum in full:

Facebook Cryptocurrency Ads Addendum

This Facebook Cryptocurrency Ads Addendum (the “Addendum”) applies to your use of Facebook to advertise, promote, market, or post any advertisements or content in any way related to cryptocurrency (the “Cryptocurrency Content”). Cryptocurrency Content includes without limitation advertisements or content concerning cryptocurrency; cryptocurrency trading platforms; initial coin offerings; cryptocurrency-related products (including hardware), services, educational offerings, and consumer goods; and cryptocurrency news, information, and advocacy. As used in this Addendum, “Cryptocurrency Ads” refers to advertisements placed through Facebook’s advertising tools, and “you” refers jointly and severally to the individual agreeing to this Addendum and each entity on whose behalf the individual agrees to this Addendum.
Section 1. Cryptocurrency Ads.

1.1 Facebook approval of any Cryptocurrency Ads or your eligibility to display Cryptocurrency Ads may be subject to such conditions and restrictions as Facebook may determine, and may be withdrawn at any time with or without notice. Any approval is subject to your compliance with the Agreement (as herein defined) and is without prejudice to Facebook's rights under the Agreement, including without limitation its rights to review and reject ads in its sole discretion. Approval hereunder does not amount to any endorsement of the material/activity approved, an acceptance by Facebook that the same complies with the Agreement or applicable laws and regulations, or act as a waiver of any Facebook rights or your obligations under other terms applicable to your use of Facebook.
Section 2. Your Responsibilities

2.1 At Facebook’s request, you will provide any supplemental information that Facebook deems, in its sole discretion, is relevant to assessing your eligibility to display Cryptocurrency Ads on Facebook. Such supplemental information may include, but is not limited to: (a) information related to your cryptocurrency-related product, service, business, or activity; (b) a legal opinion from qualified counsel regarding your compliance with this Addendum and all Applicable Laws (as herein defined); and (c) any licenses, provisional licenses, notices, permits, authorizations, permissions, consents, and registrations that are required as a matter of applicable law in connection with the Cryptocurrency Ads, the content therein, and the product, service, business, or activity promoted in the Cryptocurrency Ads or destinations linked within the Cryptocurrency Ads (collectively, “Licenses”). Relevant Licenses may include, but are not limited to, those required under applicable legal regimes governing money transmission, electronic money, deposit-taking, banking, payment systems and operators, anti-money laundering, investment services, securities, or other forms of financial services.

2.2 Where you do not yourself hold all Licenses under which the cryptocurrency activity promoted in the Cryptocurrency Ads is provided to users in applicable territories, you must ensure execution of this Addendum by each entity holding such License(s) and are responsible for their adherence to all obligations hereunder.

2.3 You will notify Facebook immediately if any of the warranties, representations, or covenants in the Agreement is no longer true or correct, or if there is a material change to any information previously provided to Facebook in connection with the Agreement or your eligibility to display Cryptocurrency Ads on the Facebook sites. This includes information related to (a) your cryptocurrency-related product, service, business, or activity; (b) the legality of your cryptocurrency-related product, service, business, or activity/conduct in a particular territory; (c) Licenses; (d) regulatory investigations; or (e) legal actions.

2.4 You will promptly give Facebook all reasonable co-operation and assistance in the event of any regulatory investigation or legal action relating wholly or partly to your use of Facebook.

2.5 You are solely responsible for all targeting options in connection with the Cryptocurrency Ads. You will ensure that all Cryptocurrency Ads are targeted or gated only to users over the minimum legal age at which individuals may use and be targeted with such ads, products, services, business, or activity in the applicable territory and only to the specific jurisdiction(s) in which you are legally permitted to run such ads and provide and promote your products, services, business, or activity.

2.6 None of Facebook’s approval, suggestion, or other action in connection with any Cryptocurrency Ad shall in any way limit any of your obligations under the Agreement, including your indemnification obligations, or your obligation to comply with all Applicable Laws.
Section 3. Representations and Warranties.

3.1 You represent, warrant, and undertake that, for so long as any Cryptocurrency Ads are placed with or maintained on Facebook:
All Cryptocurrency Content (including Cryptocurrency Ads, destinations linked within any Cryptocurrency Ads, and content you post on Facebook) and all products, services, businesses, or activities promoted in connection with the Cryptocurrency Content will comply with the Agreement and with all applicable laws, regulations, regulatory requirements, directives and codes of practices, including all applicable money transmission, electronic money, deposit-taking, banking, payment systems and operators, anti-money laundering, investment services, securities, or other forms of financial services laws, as well as consumer protection laws and regulations (“Applicable Laws”);
All information made available to Facebook by you or on your behalf is true and not misleading;
You have received and paid for all necessary Licenses, and all Licenses are and will be maintained in place;
You are not a party to any lawsuit, demand, proceeding, investigation, or regulatory inquiry with respect to the legality of your Cryptocurrency Ads, and none of your Cryptocurrency Ads are suspected to be in violation of any term of the Agreement or any Applicable Law. You will notify Facebook immediately if you become aware of any actual or potential claims in connection with your Cryptocurrency Ads, or if you become a party to any related lawsuit, demand, proceeding, investigation, or regulatory inquiry;
You satisfy all requirements and restrictions established by Facebook, in its sole discretion, as necessary for eligibility to display Cryptocurrency Ads on the Facebook sites; and
You have authority to bind the entity on whose behalf you are entering into this Addendum.
Section 4. Termination. Facebook may, at any time, terminate the Addendum or remove or suspend any specific Cryptocurrency Ad for any reason or no reason and in its sole discretion without notice.

Section 5. Indemnification. If anyone brings a claim, cause of action, or dispute against Facebook, its agents, or affiliates or their respective directors, officers, or employees, related to your use of Facebook to advertise, promote, market, or post Cryptocurrency Content, you agree to indemnify and hold us harmless from and against all damages, losses, and expenses of any kind (including reasonable legal fees and costs) related to any such claim, cause of action, or dispute.

Section 6. Waiver. The failure of Facebook at any time to require performance of any provision of the Agreement shall not affect in any way the full right to require the performance at any subsequent time. The waiver by Facebook of a breach of any provision of the Agreement shall not be taken or held to be a waiver of the provision itself.

Section 7. Agreement. This Addendum supplements and does not replace any terms applicable to your purchase of advertising inventory from Facebook, including without limitation the Facebook Advertising Policies (available at https://www.facebook.com/policies/ads) and the Facebook Self-Serve Ad Terms (available at https://www.facebook.com/legal/self_service_ads_terms) or such other applicable ad ordering terms, and such terms will continue to apply to your advertising products and services (together with this Addendum, the “Agreement”). The Facebook products and services you use to run Cryptocurrency Ads are part of “Facebook” under Facebook’s Terms of Service (the “TOS”) (available at https://www.facebook.com/terms) and Commercial Terms (available at https://www.facebook.com/legal/commercial_terms), and your use of such products and services is deemed part of your use of, and actions on, “Facebook.” In the event of any express conflict between this Addendum and the TOS, the Addendum will govern solely with respect to your Cryptocurrency Ads and Cryptocurrency Content to the extent of the conflict. Facebook reserves the right to monitor or audit your compliance with these terms and to update these terms from time to time, and your continued use of Facebook to run Cryptocurrency Ads constitutes acceptance of those changes.

END OF ADDENDUM

I count myself among those who believe Facebook's ban on Crypto related ads has more to do with their wanting to get into the market themselves (rumors have been going around on Twitter and other sites that Facebook hopes to buy Coinbase.com which would put them squarely in the middle of the Cryptocurrency market and a direct competitor to the Winklevoss Twin's own site Gemini.com and if the film "The Social Network" is to be believed, this would be the continuation of a rivalry that has been going on for the better part of twenty years.

But, it can be argued in Facebook's favor that they are trying to protect users from the scams that have been rampant in Crypto from Bitconnect to Davorcoin to Proof of Weak Hands. We will have to see how this develops and if Facebook does make a move on Coinbase.com...Stay Tuned.

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