- For the first time since 2018, Meta has allowed advertising of cryptocurrency projects on the Facebook social network.
- Now organizations that have one of 27 licenses will be able to place ads. Previously, the terms were limited to only three licenses.
- According to Henry Love, a former employee of the Facebook small business team, managing partner of Fundamental Labs (since 2016, the company has invested $ 500 million in the cryptocurrency industry), the changes will significantly affect the crypto industry and allow more investors to gain access to cryptocurrencies.
For the first time since 2018, Meta has allowed advertising of cryptocurrency projects on the Facebook social network. The company wrote about the revision of its position in the official blog. The cryptocurrency landscape has changed and stabilized in recent years, according to Meta, thanks in part to government regulations that have helped set clearer responsibilities and expectations for the industry.
Now organizations that have one of 27 licenses will be able to place ads. Previously, the terms were limited to only three licenses.
Meta Projections
According to Henry Love, a former employee of the Facebook small business team, managing partner of Fundamental Labs (since 2016, the company has invested $ 500 million in the cryptocurrency industry), the changes will significantly affect the crypto industry and allow more investors to gain access to cryptocurrencies.
“We’re going to see more adoption of the cryptocurrency industry and the metaverse than ever before,” Love said.
Also Read : Since December 1, Facebook changed its rules. Here’s what’s new
Retina AI CEO Emad Hasan also noted that the promotion of cryptocurrency companies on the social network will have a positive impact on the blockchain industry. According to him, the promotion will attract more customers who can convert ordinary money into digital.
In 2019, Facebook created Calibra, which has been developing software for its own virtual currency of the social network Libra. The token was supposed to appear in early 2020, but the plans of the social network attracted the attention of regulators. Libra has faced pressure from authorities over Facebook’s poor reputation for personal data security. In addition, regulators feared that the cryptocurrency would be used for money laundering and other criminal purposes.
Earlier, “Secret” wrote that they want to recover $ 100 billion from Meta. The prosecutor’s office of the American state of Ohio filed a lawsuit, noting that the social network misled the public about the impact of its products on children. According to the plaintiff, the management of the social network, instead of caring for minors, “produced suffering for its own benefit.” Facebook founder Mark Zuckerberg called the accusations unfounded.
