A few days ago Facebook announced its willingness to take a step back from the policy that prevented cryptocurrency companies from publishing advertisements on their services. A decision that comes after the failure of the attempt to launch a digital currency owned by Meta. Therefore, given the departure of project manager David Marcus, Facebook Ads will now also be able to promote digital coins on the platform. An important novelty for the sector, it is evident.
Facebook Ads: ban on cryptocurrency ads removed
The question between Facebook Ads and cryptocurrencies is quite a thorny one. So let’s try to take a step back and understand what the platform’s policy has been so far in this regard. From what we know, the Zuckerberg company has Digital currency ads banned for the first time in 2018, although it later revised the ban more carefully in May 2019. In any case, the rules imposed by the platform prevented start-ups in the sector from posting ads on Facebook and Instagram to promote their business and reach new potential customers. Now, however, this ban seems to be a distant memory. Meta, in fact, has decided to review it and eliminate it completely.
“With greater openness and transparency for what cryptocurrency companies can do, we will see greater adoption for the cryptocurrency industry and the metaverse. This is a turning point for mass adoption ”. So said Love, managing partner of Fundamental Labs, which has invested $ 500 million in the cryptocurrency sector since 2016. On the other hand, many former employees have said that Meta’s new policy will be of enormous support to the development of start-ups working on the blockchain. In short, the fact that Facebook’s cryptocurrency is partly bankrupt is not that bad. Finally, the companies in the sector will be able to promote their services on Meta’s platforms, and this will certainly benefit the diffusion of digital currencies.