Ads regarding blockchain tech, business news, yet as events and academic materials for cryptocurrencies will currently be displayed on Facebook without previous approval. The social media giant proclaimed the development on Facebook Business on May 8.

This marks a modification from last year, once Facebook enforced a policy that needed crypto and blockchain promoters to get previous consent before they might run advertisements. The press release goes on to specify that this transformation won't apply to advertisements that look for to market a selected cryptocurrency, and ads for initial coin offerings (ICOs) stay tabu.

The explicit purpose of such restrictions is to forestall Facebook users from falling prey to misleading advertisements. Advertisers who would like to promote a selected product, like a selected cryptocurrency, a cryptocurrency exchange, or mining software and hardware can need to endure a rigorous background screening which has the following:

“...licenses they need to be obtained, whether or not they are listed on a public exchange (or are a subsidiary of a public company) and different relevant public background on their business.”

As antecedently reported by Top Market Group, Facebook’s decision to ban cryptocurrency and ICO advertisements altogether in Jan of 2018 was criticized as unnecessary and bad for technological development. Dejun Qian, the founding father of FUSION, had commented that:

“This policy will certainly shield individuals from the scams of predatory projects. but saying an ‘intentionally broad’ policy is usually the best method and not essentially the simplest route for technology development. I don’t believe that prohibition e-commerce ads simply because individuals face the danger of shopping for counterfeited products is a sensible idea.”

Earlier in the week, Facebook reportedly acquired rights to the “Libra” trademark for its secretive cryptocurrency project. The firm is purportedly seeking $1 billion in investments for a native token that might supposedly be used on Facebook, Instagram and WhatsApp.

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