It is now easier to place advertisements about cryptocurrencies on Meta. Companies can now obtain regulatory approvals instead of going through the entire application process.
Meta is expanding the number of regulatory licenses it accepts from 3 to 27, which will enable more companies to immediately be eligible for advertising related to encryption.
Previously, in order to place advertisements about cryptocurrencies on Meta, companies had to submit an application and include information about the licenses they have, whether they are publicly traded on the stock exchange, and other relevant details.
Meta no longer relies on a large number of signals to confirm whether a company can place advertisements about encryption.
advertise
Keep reading below
Now, companies only need to hold a qualified license to place advertisements about cryptocurrencies.
Why does Meta change its policy of advertising on cryptocurrencies?
Meta stated that it is changing its policy because the cryptocurrency field has matured and stabilized in recent years.
In addition, more government regulations are in place, setting clear rules for the industry.
Therefore, Meta can make its policy on cryptocurrency advertising more fair and transparent.
What does this mean for advertisers?
Advertisers who have previously been approved to run advertisements related to cryptocurrency will not be affected by this change.
The list of products and services that require pre-approval will not change.
advertise
Keep reading below
what Yes What has changed is the steps companies must go through to get permission to run these types of advertisements.
Companies that hold at least one of the 27 licenses and registrations accepted by Meta can get permission to run encrypted advertisements.
inside America, Acceptable licenses include:
- FinCEN MSB registration, issuer: Financial Crime Enforcement Network (FinCEN)
- BitLicense, Issuer: New York State Department of Financial Services (NYSDFS)
A complete list of licenses is available on Meta Policy page.
Who needs permission to run ads about encryption?
The following types of businesses and service providers need permission to run encrypted advertisements:
- Platforms, software applications or products called cryptocurrency exchanges and trading platforms.
- Platforms, software applications or products that provide cryptocurrency lending.
- Cryptocurrency wallets that also allow people to buy, sell, exchange or pledge their cryptocurrency tokens.
- Hardware and software used for cryptocurrency mining.
Who does not need permission?
The following types of businesses and service providers are no Requires permission to run encrypted advertisements:
advertise
Keep reading below
- Tax services for cryptocurrency companies.
- Events, education and news related to cryptocurrency (no cryptocurrency products or services are provided).
- Blockchain technology news.
- Non-virtual currency services and products based on blockchain technology, such as NFT.
- A cryptocurrency wallet that allows users to store their cryptocurrency tokens without buying, selling, exchanging or collateralizing their cryptocurrency tokens.
Since cryptocurrency is a constantly evolving space, as the industry changes, Meta may improve its rules over time.
The company will continue to review available licenses and may expand its list of qualifications in the future.
source: Meta business
Featured image: rafapress/Shutterstock
