Facebook narrows advertising policy to detect misleading advertising practices

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Facebook has implemented changes to its advertising policy regarding blockchain, cryptocurrency and financial products and services.

This is an update to a policy introduced last year. The policy had allowed ads on Facebook regarding cryptocurrency and related products and services including blockchain, from advertisers who had prior written approval.

Starting May 8th, Facebook will no longer require prior approval to run ads related to blockchain technology, industry news, education and events related to cryptocurrency.

However, advertisers who want to run ads for cryptocurrency, such as cryptocurrency exchanges and mining software and hardware will continue to be required to have approval to examine their eligibility.

Facebook will examine an advertiser’s credibility by looking at their licenses. It will also look into whether they are traded on a public stock exchange.

The change comes after Facebook recognized that the previous policy was broad and required reworking in order to detect misleading advertising practices.

Facebook will also no longer allow ads that promote contracts for difference (CFD’s).

More information on the policy change can be found here.