Facebook reverses cryptocurrency ad ban

On December 2, Facebook announced on Wednesday that it had decided to revoke its long-standing policy that prevented most cryptocurrency companies from advertising on its services, and would allow more cryptocurrency and blockchain ads on Facebook and Instagram. The company is increasing the number of regulatory licenses it accepts from 3 to 27. Before the update, only a small number of crypto companies were able to advertise on Facebook.

According to the updated policy, the following crypto products and services can now obtain written permission to run ads on Facebook, including cryptocurrency exchanges and trading platforms, cryptocurrency lending services, cryptocurrency wallets and cryptocurrency mining infrastructure. In addition, products and services related to blockchain technology, crypto news, education, payment methods and commodities can be promoted without prior written permission. A spokesperson for Meta (Facebook's parent company) confirmed that these changes will also affect Instagram, which is owned by the company. (CNBC)