Meta, the parent company of social media giant Facebook and Instagram, recently updated its eligibility criteria for running crypto ads, adding a total of 24 more regulatory licenses to its list of accepted licenses.
While the size marks a development in Facebook's long-standing policy that prohibited encryption organizations from serving ads on its services, the company is still a long way from pulling out of its ban on encryption ads.
"Estamos haciendo esto porque el panorama de las criptomonedas ha seguido madurando y estabilizándose en los últimos años y ha visto más regulaciones gubernamentales que están estableciendo reglas más claras para su industria", dijo Facebook.
For example, in the US, crypto platforms that tend to serve ads on Facebook must have a Money Services Business (MSB) registration license from the Financial Crimes Enforcement Network (FinCEN) or a BitLicense from the Department of Financial Services of the State of New York (NYSDFS).
To put this in sight, a small number of crypto organizations such as Coinbase, Circle, and Robinhood Crypto are eligible to serve ads. However, most crypto organizations, integrated exchanges like Binance.US and FTX.US that do not have the accepted licenses, will not be able to serve ads on Facebook.
