Facebook has relaxed its ban on cryptocurrencies advertising. The social media platform has said that those that want to advertise cryptocurrencies on Facebook will now be allowed to, provided that they are pre-approved.
However, Facebook has also indicated that advertising ICOs (Initial Coin Offerings) and binary options, is still banned. The company also announced new transparency features for Ads and Pages.
"The vast majority of ads on Facebook are run by legitimate organizations — whether it’s a small business looking for new customers, an advocacy group raising money for their cause, or a politician running for office. But we’ve seen that bad actors can misuse our products, too. These steps are just the start — we’re always looking for more ways to improve. By shining a bright light on all ads, as well as the Pages that run them, we’ll make it easier to root out abuse – helping to ensure that bad actors are held accountable for the ads they run."
One of the new changes by Facebook includes labeling political party related Ads. The second country where political Ads labeling and archiving will be available in, after being launched in the USA in May 2018, is Brazil ahead of the October 2018 general elections. This means that Brazilians will start seeing labels for election ads in their country — all of which will be added to Facebook's archive.
"Giving people more information about any organization and the ads it’s currently running will mean increased accountability for advertisers, helping to prevent abuse on Facebook."