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  • Updated: December 02, 2021

Meta Expands Number Of Regulatory Licenses On Cryptocurrency Ads

Meta Expands Number Of Regulatory Licenses On Cryptocurrency

Meta has expanded the number of regulatory licenses it accepts from three to 27 as it relaxes its bans on cryptocurrency ads.

Meta said that the crypto landscape has "matured and stabilized" enough to justify the change of heart including an increased amount of government regulation that sets "clearer responsibilities and expectations."

"Starting today, we’re updating our eligibility criteria for running ads about cryptocurrency on our platform by expanding the number of regulatory licenses we accept from three to 27. We are also making the list of eligible licenses publicly available on our policy page."

Advertisers still need authorisation to run ads for cryptocurrency exchanges, lending and borrowing, crypto mining tools and wallets that let you buy, sell, stake, or swap tokens. This does, however, open the door to cryptocurrency businesses that previously couldn't run any ads, not to mention would-be investors who might not be familiar with the market, Engadget stated.

The development happened just a day after Meta's crypto overseer, David Marcus, said he was leaving the company. Marcus has spent roughly two years trying to launch Meta's crypto wallet Novi, so far succeeding only with a small test run.

With the new development, it is obvious that Meta isn’t worried about the volatility and regulatory uncertainty of cryptocurrency.

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