Facebook is ultimately pulling back the crypto ads ban – Here is what you need to know!

Facebook has decided to pull back the long-running ban on cryptocurrency ads, which opens a new doorway allowing the promotion of popular cryptocurrency Bitcoin on the social media platform. With a rise in Cryptocurrency trading in Kolkata, this can be good news for crypto enthusiasts. This can be good news for the entire crypto industry as the previously shut businesses can open again and can lure potential investors.

What is the motive behind raising the ban by Facebook?

With Blockchain development taking a new leap, cryptocurrencies are being adopted by many, Facebook will now allow crypto ads on the platform. The social media giant has recently been re-branded to be known as ‘Meta’, and have clarified that the number of regulatory licences will be increased from 3 to 27. This policy adoption can be a game changer and can lead to mass adoption, allowing crypto investors to access the entire cluster of cryptocurrencies.

Key takeaways on lifting the ban –

·         Reversing the long-standing policy that prevented most of the cryptocurrency companies from running ads on the social media platform.

·         The move was initiated by Facebook after the crypto providers failed to launch the digital assets with the intention to transfer money across the world.

·         Apart from bringing a huge relief for the crypto industry, with the new policy in place, the retail investors now can easily access cryptocurrencies.

According to an official report, the ban on cryptocurrency ads is lifted after a year and from now on, cryptocurrency ads on the social media platform will no longer require any written approval in advance.

What are the new set of rules for posting crypto ads on Facebook?

With Cryptocurrency trading in Kolkata and across the world on the rise, this lift of the ban on ads will let everyone know more about what is happening in the crypto space. However, if you are planning to promote crypto trading, then you need to be wary of the eligibility requirements. This can help the advertiser’s identity and maintain legitimacy in advertising practices. There are certain eligibilities to keep a check on before advertising cryptocurrencies on social media platforms –

·         Need to check if all the eligibility requirements are met accordingly. This will include ad licenses given by different countries having well-developed cryptocurrency regulatory frameworks.

·         Once the requirements are met as per the terms, then have a clear understanding of your target audience you want to reach with your advertising message.

·         Make sure your Facebook business page is active, and Instagram business account is live or not.

·         The crypto ads should be referred to as advertisements run through Facebook’s advertising tools.

Apart from all the above-mentioned rules, advertisers do need to obtain written approval from Facebook prior to posting the ads on the platform.

As stated by a Cryptocurrency exchange development company, Facebook might continue the ban on cryptocurrency ads that do not allow for submitting one of the 27 regulatory licences that are accepted by the social media platform.