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Since then, the company has received feedback from many users and assessed the policy’s effectiveness.
While Facebook will still require people to apply to run ads promoting cryptocurrency, starting today, the company will narrow this policy to no longer require pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency.
Starting June 5, Facebook will update their Prohibited Financial Products and Services policy to no longer allow ads promoting contracts for difference (CFDs), complex financial products that are often associated with predatory behavior.
Ads regarding initial coin offerings (ICOs) and binary options will still be banned.
As with all ads on Facebook, the company requires the ad’s text, targeting, positioning, images and content on the landing page comply with this updated policy as well as with all of their Advertising Policies and Community Standards.
An ad that directs to a landing page that features a restricted product, like a cryptocurrency exchange, will still require prior approval.
“We’re committed to preventing misleading advertising on our platforms, especially in the area of financial products and services,” the company stated in recent blog post.
This process will continue to take into account licenses they have obtained, whether they are traded on a public stock exchange (or are a subsidiary of a public company) and other relevant public background on their business.
You can learn more about the signals Facebook uses to review applications in the Help Center.