Meta has expanded the acceptance count of regulatory licenses to run ads on cryptocurrency as the digital currency grows and governments around the world acknowledge the industry with clearer laws.
With this change, the number of regulatory licenses accepted for running cryptocurrency ads on the platform has been increased from 3 to 27, and Meta has also made the list publicly available on their policy page.
The change is intended to make the advertising space for cryptocurrency more equitable and enable more advertisers and small businesses to tap the active userbase.
Advertising cryptocurrency on Meta platforms will require one of the 27 eligible licenses, instead of the previous process, advertisers submitting an application with the required information, and the company using a variety of signals to confirm eligibility.
Products and services that require pre-approval have not changed. Prior written permission is necessary on the criteria for:
- Platforms, software apps, or products known as cryptocurrency exchanges and trading platforms. Examples include but are not limited to spot trading, margin trading, futures trading, or other trading instruments that involve cryptocurrency assets
- Platforms, software apps, or products that offer cryptocurrency lending and borrowing
- Cryptocurrency wallets that also allow people to buy, sell, swap, or stake their cryptocurrency tokens
- Hardware and software for cryptocurrency mining
As cryptocurrency is not a conclusively developed space yet, and the digital financial industry may not have concrete laws set yet, Meta mentions the eligibility criteria and policies for advertising cryptocurrency may be altered or refined in the future.