Meta banned cryptocurrency Ads in January 2018. Many investors tried to break the policy to promote the crypto market. Thus, the developers extended the ban up to May 2019. It prevented the start-ups in crypto from reaching potential customers.
There is a risk factor associated with crypto products, including Bitcoin. One should not trade cryptocurrency without knowing that. Otherwise, you might face severe revenue losses. Hence, Meta imposed rules to protect the sites from crypto traders.
However, the developers removed the ban from the online platforms in 2021. Additionally, Meta updated its Ad policies and regulations. It simplified the application process of running crypto-based Ads on Facebook. Businesses can now get regulatory licences on the Meta platforms.
Meta also changed the eligibility criteria to run crypto Ads. Facebook used to accept only three application processes earlier. It is currently accepting 27 applications from the investors. And, the developers did that to expand the growth of the crypto market.
Need to run cryptocurrency Ads on any Meta platforms? Follow this guide to get in-depth information:
Why did Meta Upgrade its Cryptocurrency Ad Regulations?
Did you publish any crypto Ads before? Then, you might know what’s required for the application. Additionally, the investors need to include their licence details there. Contact Smart Data Recovery if you want to recover any Ad-related data.
The businesses also needed to mention the stock market experience. But, you don’t have to do these after the recent Meta update. And, the investors can run ads by holding an eligible licence. Further, you should have adequate knowledge about the market.
Meta can restrict the account if you add any misleading information. But, why did Meta remove the crypto Ad ban? The developers made a few statements about that. The crypto market has stabilised over the years. Moreover, the government has set clear rules for this industry.
Almost 300 million people invested in cryptocurrency in the past few years. Thus, Meta tried to update the policies to help them. You can reach the targeted audience in this way. Make the crypto Ads easy to understand for the interested traders.
How does this Meta’s New Policy Benefit the Advertisers?
Meta’s updated Ad policy will generate more business opportunities. It will help the traders to know more about cryptocurrency. And, they will avoid the potential risks associated with it.
Have you advertised on Facebook before? Then, this new policy won’t affect your business. The policy update is to encourage small businesses to trade crypto. However, you need to know about the Crypto products Meta approves. Otherwise, it might hinder the crypto investment process. And, Meta didn’t make any significant changes in the policy.
It only updated the way to receive permission to run crypto Ads. You need to now go through more steps for online advertising. Moreover, Meta listed the 27 essential business licences. And, you need to have one from them to get the allowance.
Which Licence do You need to Run Crypto Ads on Meta Platforms?
Meta accepts only relevant licences and registrations for advertising. And, the trading licence type might vary from one country to another. Advertisers need to upload this document on Facebook’s support page.
Do you live in the United States? Then, apply for the FinCEN MSB registration. Or, the crypto advertisers should have the BitLicense to run Ads. The Australian residents should submit the AUSTRAC registration.
Are you from Canada? Get the FINTRAC licence to run Ads on Facebook. Moreover, Finland’s natives need to have the Fin-FSA registration. Apply for the AMF digital asset licence if you live in France.
Do you want to trade crypto products from Norway? The issue for the Financial Supervisory Authority registration from Finanstilsynet. And, the UK residents need the FCA licence for trading.
Get the VASP report from ISMS if you live in South Korea. Otherwise, you won’t be able to run crypto ads on the Meta platforms. However, getting a business licence in the UAE might be difficult. You need to download the Financial Services Regulatory Authority licence.
Moreover, you need to attach the required documents with it. If the registered authorities find any improper information, they can cancel the licence. And, this is why you should check twice before applying to DFSA.
What are the Eligibility Criteria to Run Crypto Ads on Meta Sites?
Meta set a few eligibility criteria for crypto advertising. And, you should know those before writing an application. Meta doesn’t accept all Ads that the investors want to post, and there are certain limitations associated with running these Ads.
The advertisers shouldn’t entice the traders with misleading information. Moreover, the Ads shouldn’t promote any crypto trading platform.
Do you want to talk about any crypto trading software or services? Then, you need to submit a written application to Meta.
Don’t add information about a crypto product that involves reselling. Besides, Meta does not allow to run Ads that include the staking of cryptocurrencies. Never mention any crypto products that enable monetisation.
Do you want to apply for crypto Ads? Log in to Facebook and request an Ad account.
How to Request a Crypto Ad Account on Meta Apps?
Install Facebook or Instagram on the smartphone or desktop. And, access the Business Manager account when the web page opens. Tap on “Settings” and head to “Business Settings”. Navigate to “Ad account status” and select “Add”.
Additionally, you need to choose “Advertiser Details”. Can you see the “Business Auxiliary Document” section? Upload the supporting crypto trading documents there. And, write a few lines on “Additional Comments” about the product.
Double-tap on “Ad account details” and select “Continue”. Wait until the new web page opens and click “Continue”. Check all the crypto product details and tap on “Request ad account”. Meta will accept the request within a few minutes. And, it will generate a new ID to run Ads on online platforms.
How to Run Cryptocurrency Ads on Meta Platforms?
Open Facebook’s Help Centre page from any browser. Look for “Cryptocurrency products or service onboarding requests” from the pop-up list. And, then write the type of product that you want to advertise.
Do you want to talk about cryptocurrency wallets in the Ad? Write detailed information about that on the page. Additionally, the advertisers need to write the reason for the application.
Have you run crypto ads before on Facebook? Mention that as well on this support page. And, select “New application” if you have never opted for online trading. Click “request re-review” if Meta cancels previous application requests.
Now, it’s time to enter the Ad account ID. Provide the registered business name afterwards. Besides, the traders need to add their country names. Write where the company is located. Enter the website domain and tap on “Choose files”.
Here, you need to provide a copy of the trading licence. Or, the businesses can also attach the applicable registration screenshots. Ensure the business document you upload is in English. Additionally, the investors need to enter a valid email address.
Go to the next section and provide a brief description of the crypto-related content. Go through the agreement of crypto ads and tap on “Submit”. Meta reviews most Ads within 24 hours, however, it may take longer in some cases. If you didn’t get any confirmation mail within 72 hours, re-write the application.
When does Meta Remove Crypto Ads from Facebook?
Meta removed 5000+ Ads from Facebook in the last year. This happens when the advertisers add irrelevant topics to the crypto Ads. Moreover, the product-related ads can be removed for violating the advertising principles. Meta will block you from running ads on Facebook if you don’t have 1000 investors on the account. So, reach out to more people to run a successful business.