Meta, Facebook’s parent company, says it will be expanding the number of licensed crypto advertising on its platforms.
The corporation, which also owns Instagram and WhatsApp, has updated its eligibility criteria for ads that cryptocurrency businesses and firms can place saying that it has added the number of regulatory licenses from 3 to 27.
According to Meta, the cryptocurrency landscape has continued to mature and stabilize in recent years with government regulations that are setting more clearer rules for the industry.
The licenses also mean that the process for getting ads about crypto businesses on Meta products will be less stringent as potential advertisers need just apply for any of the 27 licenses.
Previously the application process was hectic:
- Users had to include information on any licenses obtained for their businesses
- Whether their business was traded on the stock exchange
- Other relevant background information on the business
The company says that it is open to expanding eligibility by adding licenses for a greater variety of crypto businesses as the industry has continued to evolve.
Meta, which is positioning itself as the primary marketplace for the metaverse, says that the move is there to help businesses, including small businesses, to expand using its tools.
The change also makes Meta’s policy more equitable and transparent.