Facebook is loosening up on its ban – kind of – on advertisements associated with digital currency.
The social network tycoon has introduced a “cryptocurrency products and services onboarding request” form that will enable some firms to get their advertisements on the system, according to an article posted on Tuesday.
Facebook, nonetheless, will not permit ads for initial coin offerings or binary options. The prohibition on these continues to be in place months after Facebook first took steps against crypto-advertisements in a move that was followed by comparable measures by Twitter, Google, and other key sites.
The demand sheet demonstrates that the social media firm would like details on the types of services firms hoping to advertise offers. For instance, Facebook asks whether firms have the appropriate permits to be able to work, or if they are a publicly-listed company. Facebook has additionally posted a legitimate addendum setting out its plan when it comes to cryptocurrency advertisements.
Remarkably, the social media firm proposed that its plan could see more adjustments in the future.
Rob Leathern, product management director for Facebook, wrote in the article:
“Given these limitations, not everyone who wishes to advertise will be able to do so. But we’ll listen to suggestions, look at how well this plan works and keep on to examining this technology so that, if required, we can revise it with time.”
The move has received early plaudits from the cryptocurrency PR space.
Trey Ditto, the founder of Ditto PR, a crypto public relations company, described Facebook’s shift as “the first step in permitting reputable blockchain projects, crypto firms, and ICOs to get in front of new prospective clients and investors.”
“This will be a big boost for Facebook promoting revenue as the greater part of projects out there are interested – and have the cash – to run paid advertisements,” Ditto added.