Meta relaxed rules for Crypto Ads due to evolving crypto space

• Meta revised its regulations for showing crypto ads
• Earlier, Meta banned all ads from Crypto

Meta eased regulations for Crypto.

Facebook and Instagram relaxed rules on cryptocurrency. They eased the regulations because Meta, the parent company of both social media platforms, thinks that the crypto landscape has become more mature in recent years. Also,  many government organizations are setting clear rules for this industry. So it will be safe for them to show ads on social media platforms.

Meta took this step to help small businesses grow their audiences and reach a broader range of customers. This action will be instrumental in the mass adoption of cryptocurrency.

All companies already given the green light can easily advertise their projects. However, still, the companies that primarily work on activities such as mining and hardware will need written permission to run their advertisement.

Seeing this move by Meta, google also eased its regulations for crypto exchanges and wallets in the US, and they were permitted to meet the tech giant’s requirements.

Meta thinks these changes will make their policies more transparent and equitable. These new regulations proposed by Meta didn’t impact previously approved companies. But the company used prior written permissions based on the following criteria:

Not all crypto companies are allowed.

Platforms that offered the borrowing and lending of the cryptocurrency were asked to get prior written permission before running an ad. Cryptocurrency wallets were also asked to do the same.

Crypto was still facing regulatory issues at that time because many politicians of that time were against it. This event impacted the crypto market badly at that time. 

The initial coin offering was still not allowed on the social media giant, and the same is true with binary options. 

Earlier, the company had banned all crypto ads. The company thought that there were better decisions than banning all Crypto. So it revised its policies to reconsider its decision. this time, it came with new policies that not only made it harder for scammers to scam the public with strict regulatory guidelines. As well as allowing legitimate companies to show the ads.

This decision is also beneficial for advertising companies as crypto advertising would bring huge revenues for them. 

This step by meta was seen as a sign of the adoption of cryptocurrency. This decision by Meta had a positive impact on the crypto world. This is because more and more ads will be displayed. More people will get to know about cryptocurrency. This will lead to a bigger user base for Crypto. hence crypto market will gain momentum. This is a piece of good news for the crypto space.

Meta again mentioned that cryptocurrency is evolving daily, and hence they can further consider losing guidelines for the market. The social media giant has expanded the no. of licenses it accepts from 3 to 27.