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  • Cryptocurrency ads on Facebook will not seek pre-approval from now on.
  • ICO related ads still don’t have space on the social media platform.

One of the leading social media giants and advertising platforms Facebook has changed its mind once again regarding the ban on cryptocurrency related advertisements. In a blog post, the company has lifted the ban on the ads and updated the policy that required such ads to seek approval. The website stated:

“While we will still require people to apply to run ads promoting cryptocurrency, starting today, we will narrow this policy to no longer require pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency.”

Facebook put a ban on cryptocurrency related ads following an increase in scams that duped unsuspecting users. The was put in place in January 2018 noting that they were “misleading or deceptive.”

However, other platforms also put restrictions on the same ads including Google but Facebook lessened the banned to allow only pre-approved ads in June 2018. Consequently, Google eased the pressure on the ads in September 2018.

In spite of the lifted ban, Initial Coin Offering (ICO) ads are still not allowed on the platform. It seems the crypto market is growing to maturity as regulations are put in place across the world. Besides, Facebook has been rumored to be looking forward to launching its own digital coin.