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

Meta announced a massive update to advertising requirements for cryptocurrency products and services on Facebook and Instagram.

1 minute & 11 seconds read time

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

Meta drops big crypto update for Facebook, 'effective immediately' 01

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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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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