At the beginning of this year, the crypto community has been hit with the news about Facebook banning crypto ads. This news was followed by the same decisions from Google, Twitter, and Snapchat. The social media and Internet giants adopted a very strict stance towards this nascent market, referring to cases where scammers were granted the opportunity to promote their fraudulent products. Yet, how long did their stance against this market last?
Facebook Softens its Stance Regarding Crypto Ads
Already this June, Facebook has made an announcement that they decided to relax some of its restrictive decisions regarding crypto advertisement. Nevertheless, the ban on ICOs advertisements has not yet been entirely reversed.
Facebook has stated: “not everyone who wants to advertise will be able to do so.” The social media company stated that it will carry on with monitoring the situation and might change its decision over time.
Facebook Crypto Ads on boarding guide
The new Facebook policy has called for advertisers intending to promote their cryptocurrency products and services to submit applications to Facebook for the company to assess their eligibility. Facebook requested applications to include “any licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public backgrounds on their business.”
Now, how do you get whitelisted and get your crypto ads to display on Facebook? The process involves filling in Facebook’s crypto onboarding form: “Cryptocurrency products and services onboarding request”. For further details, crypto advertisers are recommended to read through Facebook’s Cryptocurrency Ads Addendum.
Has Google also relaxed its stance against Cryptocurrency Ads?
Likewise, Google has informed the public about its decision to enact a ban on the advertisement of Binary options, cryptocurrencies and related content like initial coin offerings (ICOs), cryptocurrency exchanges, cryptocurrency trading advice and cryptocurrency wallets.
The company has added that the ban’s reach will not be limited to this list, as it plans to oversee the markets for more "cryptocurrency related content and ads".
However on Monday, a number of online reports have stated that Internet users were able to see Coinbase advertisements on Google, when typing in a search bar “Bitcoin” or “Coinbase.”
Numerous online media outlets have reported that Google has finally softened its stance concerning cryptocurrency advertisements. Yet, no official announcement from the company has been published yet.
Was the indicent of Coinbase on Google only a mistake, or do you think that Google and Facebook is in the process of reversing their crypto and ICO ads ban? Let us know in the comments section below.