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Facebook Reverses Its Crypto Ad Ban (techcrunch.com)

Posted by BeauHD on from the on-second-thought dept.

Back in January, Facebook banned cryptocurrency ads because too many companies in this space were "not currently operating in good faith." Now the social media company is reversing its ban effective immediately. "The company says it will allow ads and related content from 'pre-approved advertisers,' but will still not allow ads promoting binary options and initial coin offerings," reports TechCrunch. From the report: This time around, it's making advertisers go through an application process to determine their eligibility. Facebook will ask advertisers to include on their applications details like what licenses they've obtained, whether they're a publicly traded company, and other relevant background information regarding their business. How thoroughly this information is fact-checked by Facebook staff remains unclear.

The company reminded users in the same announcement that they should continue to flag ad content that violates its guidelines. In other words, expect some bad ads to get through. Facebook explains its new requirements will keep some crypto advertisers from being able to hawk their businesses on the social network, but adds that its policy in this area continues to be a work in progress. Facebook's Product Management Director, Rob Leathern, made the announcement.

13 of 28 comments (clear)

  1. Now we get to see... by forkfail · · Score: 1

    ... which currencies Zuck invested in, I guess...

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    Check your premises.
    1. Re:Now we get to see... by Penguinisto · · Score: 1

      ...that, or FB really jacked-up their ad rates for crypto-related ads ('...just to make sure these were not fly-by-night companies, you understand...')

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      Quo usque tandem abutere, Nimbus, patientia nostra?
    2. Re:Now we get to see... by WankerWeasel · · Score: 1

      Ad rates are based on competition within the bidding system. So the more crypto advertisers you have, the higher the bids will go. It's in FBs best interest to allow as many as possible, as they're all competing for the same eyes, increasing their bids, and revenue they're paying Facebook for those eyes.

    3. Re:Now we get to see... by Actually,+I+do+RTFA · · Score: 1

      You get to see which currencies he invests in, in real time.

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      Your ad here. Ask me how!
    4. Re:Now we get to see... by DontBeAMoran · · Score: 1

      Reddcoin is made for social networks integration.

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      #DeleteFacebook
  2. ad's for putin coin must be rushed out! by Joe_Dragon · · Score: 1, Funny

    ad's for putin coin must be rushed out!

  3. Anyone know why they care? by rsilvergun · · Score: 1

    I'm assuming they're afraid of getting nailed by the SEC, just not sure why.

    --
    Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
  4. Money. by ScienceofSpock · · Score: 2

    The just couldn't keep up the facade for very long, eh? Someone offers them enough cash and they'll change their rules. Fuck the users.

    Anyone else still have questions on what facebook is all about?

  5. Wait... by NoNonAlphaCharsHere · · Score: 1

    Back in January, Facebook banned cryptocurrency ads because too many companies in this space were "not currently operating in good faith." Now the social media company is reversing its ban effective immediately.

    So you're saying that Facebook can now be trusted to determine when someone is acting in "good faith"?

    <head asplodes>

  6. Re:"crypto" means cryptography by ITRambo · · Score: 1

    Gay used to mean happy. Language evolves.

  7. Well, there's your problem ... by fahrbot-bot · · Score: 1

    ... Facebook banned cryptocurrency ads because too many companies in this space were "not currently operating in good faith."

    They abandoned that rational because it ended up blocking Facebook ads too. :-)

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    It must have been something you assimilated. . . .
  8. Re:"crypto" means cryptography by omnichad · · Score: 1

    That argument was lost with words like "phone" as an abbreviation for telephone. And co-ed (co-educational) somehow meaning only women. Pro as Professional is an entire prefix that only means one use of it when alone. And if you want to go way back, gymnasium shortened to gym reduces to naked in Greek (when you look at the original word parts).

  9. reversing its ban by Errol+backfiring · · Score: 1

    Not only that, but by "reversing" I read that they now only place ads "not currently operating in good faith."

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    Nae king! Nae laird! Nae yurrupiean pressedent! We willna be fooled again!