Meta – formerly Facebook – has said it will expand the eligibility of cryptographic ads on its platform, increasing the number of regulatory licenses it accepts. Previously limited to 3, the company now accepts 27 licenses, which can be publicly viewed on its policies page.
Facebook cryptocurrency ads
Meta announced its ad expansion on its website earlier today. Apparently, this is a response to the increasing regulation of cryptocurrencies over the years, which has increased the clarity of expectations about the sector. As such, Meta departed from its case-by-case multivariate model when determining eligibility. Instead, they will have one of their 27 licenses.
This is somewhat surprising, as the Securities and Exchange Commission has long been criticized for setting unclear expectations about the crypto industry. Brian Armstrong of Coinbase fought with the commission several times and tried to set the expectations of private industry to help in the process. Even a member of the commission – Hester Peirce (aka “mother of crypto”) – expressed disappointment at the lack of progress in regulating cryptocurrencies.
Meta said his policy is more "fair" and "transparent" with the rule change and will help small businesses leverage Facebook's reach to grow.
“Cryptocurrency continues to be an evolving space and we may refine these rules over time as the industry changes,” said Meta. “This includes adding qualifying licenses to the list as they become available and after we review them.
