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Meta Lifts Ban on Crypto Ads

Meta now recognizes licenses from as many as 23 countries.

Facebook, now rebranded as Meta, announced on Wednesday that it is going to allow cryptocurrency advertisements to run on its platform, in a reversal to a previous antithetical policy.

The company states that the cryptocurrency space has matured and has some level of regulatory clarity. Considering this, it has allowed some forms of advertisements and accepts 27 licenses, up from 3 previously, to allow advertisements.

These licenses are granted by national regulators. Currently, the company recognizes the licenses granted in 23 countries.

However, crypto exchanges, lending platforms, mining hardware and software, and wallets will still require prior approval from the platform to run advertisements.

This announcement comes at a time when Facebook itself has openly declared its vision of making a metaverse.

Meta (earlier Facebook) has dabbled in cryptocurrencies in the past. In October, it launched its crypto wallet called Novi and also rebranded it to the current name Meta.

Moreover, it has established a $50 million fund to invest in Metaverse related projects.

One can clearly see, the social media behemoth is slowly pivoting to the crypto industry.

Facebook opening up for advertising is a good sign for the crypto industry. It unlocks a huge market with significant outreach to the masses for crypto projects to capitalize on.

Cryptoverse, as said by the crypto aficionados, envisions to have every possible product or service from Web 2.0 to move on Web 3.0. In just a matter of a couple of years, cryptoverse has evolved from just a fad to a real industry. That’s why big companies are also moving in to catch a piece of the pie.

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