Meta drops big crypto update for Facebook, 'effective immediately'

Meta, formerly Facebook, has announced that its expanded its cryptocurrency advertising eligibility on Facebook and Instagram.

On Wednesday, Meta announced it will be giving companies much more room to operate by advertising cryptocurrency products and services on its social media platforms. Cointelegraph reports that "effective immediately", Meta will officially recognize 27 different regulatory licenses from advertising companies, which is a significant increase from the three licenses it was accepting before this change.

Very few companies advertise cryptocurrency products and services on Facebook and Instagram as the platform's advertising guidelines were quite narrow, but now that the guidelines have been widened, we can expect to see a larger variety of crypto-related products and services advertised. On top of products and services, a Meta spokesperson told Cointelegraph, "crypto news, education, payment methods, and merchandise can be advertised without prior written permission," writes the publication.

Cryptocurrency products and services that can now run ads on Facebook/Instagram:

• Cryptocurrency exchanges and trading platforms
• Cryptocurrency lending and borrowing services
• Cryptocurrency wallet
• Cryptocurrency mining infrastructure

"[O]ver the years the cryptocurrency landscape has matured and stabilized and experienced an increase in government regulation, which has helped to set clearer responsibilities and expectations for the industry. Going forward, we will be moving away from using a variety of signals to confirm eligibility and instead requiring one of these 27 licenses." - Meta

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