Meta changed their cryptocurrency advertising policies once again. They recently relaxed their policies, making it a breeze for social media pages to run advertisements on cryptocurrency and mining hardware products. The change comes as the digital coin industry settles in with the implementation of government regulations.
Facebook has a love and hate relationship with cryptocurrency. One moment, they’re pulling off cryptocurrency and its related products like mining hardware and then the next thing, they’re beginning to cut the chains loose. However, since the industry began to stabilize, they came up with their own cryptocurrency, Libra.
In Facebook’s previous advertising policy, marketers who want to run crypto ads will need to submit an application, including licenses. Now, the tables have turned; it’s easier to advertise cryptocurrency and mining hardware on social media platforms.
Learn more about Facebook’s cryptocurrency and mining hardware advertising rules.
Can you advertise crypto ads on Facebook?
Facebook’s perspective on running crypto ads has changed over the years. In 2018, they blocked digital coin ads after the initial coin offering scam incident. In June, the same year, Facebook allowed cryptocurrency ad postings from marketers and advertisers who have received prior approval. In May 2019, they no longer required pre-approved cryptocurrency advertising applications but with limitations to blockchain technology, cryptocurrency news, cryptocurrency education, or events.
If you’re wondering whether advertising cryptocurrency on Facebook is allowed, the answer is yes, but with reservations. Read more to learn about Facebook’s cryptocurrency advertising policies and requirements.
Facebook’s cryptocurrency advertising policies
Under Facebook’s advertising policy on cryptocurrency products and services, marketers and advertisers planning to run crypto ads should meet the eligibility requirements. According to Facebook, these prerequisites help the platform identify the legitimacy of cryptocurrency products.
To advertise cryptocurrency or your mining hardware companies, you’ll need relevant licenses from your state of origin. Only permits from the Financial Crimes Enforcement Network (FinCEN) and Department of Financial Services, New York (NYSDFS) are accepted in the US. Other licenses not from these institutions aren’t accepted. You may view the accepted licenses here.
Furthermore, Facebook jumped from three to 27 licenses accepted from countries like the US, Australia, Austria, Canada, Estonia, Finland, France, Germany, Hong Kong, Indonesia, Japan, Luxembourg, Malaysia, Netherlands, Norway, Philippines, Singapore, South Korea, Sweden, Thailand, United Arab Emirates, and the U.K.
If you have the required licenses, you may then submit an application. Facebook will review your application and assess your eligibility. Once you have a go signal to run crypto ads, you’ll get a notification. But who has the time for all this waiting? At Global Presence, we do all the work for you to ensure that your cryptocurrency products, such as mining hardware, are visible and running.
Take note that not all cryptocurrency-related products are allowed for advertising. They may change over time and with Facebook’s stance, there is a chance for these advertising policies to be modified in the future.
What crypto ads are allowed?
If you’re marketing for cryptocurrency news or blockchain technology, you can quickly run crypto ads on Facebook without the need for an application as long as your ads conform to Facebook’s advertising guidelines. Other cryptocurrency ad placements allowed under Facebook’s watch are tax services for cryptocurrency and mining hardware companies.
While cryptocurrency products like mining hardware and software, cryptocurrency mining trading platform and cryptocurrency are also allowed, they still need permission for posting.
What’s not allowed?
Facebook emphasized on their advertising policies that cryptocurrency trading platforms and software that enables monetization such as reselling, swapping, or staking cryptocurrencies aren’t allowed. So save your time if you’re planning to run crypto ads involving monetization.
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