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Facebook reverses ban on cryptocurrency ads

May 09, 2019 / Mitchell Moos

Facebook announced in a blog post today that it will once again allow advertising related to cryptocurrency and blockchain. Previously, only a limited number of pre-approved advertisers were permitted to run crypto-related ads. In 2017, as money poured into the sector scams proliferated. ICOs with cobbled together WordPress websites and unverifiable, and oftentimes faked, teams were able to raise hundreds of millions from unsuspecting investors. These scams were profitable. So much so that many of these companies were willing to pay a premium for advertising on platforms that could attract additional victims. Facebook was one of these hotbeds for crypto-related advertising.