MUMBAI: Get ready for bitcoin ads in your Facebook feed once again. Social network platform Facebook that had banned cryptocurrency ads in January 2018 has now permitted the advertisement of cryptocurrency on newsfeed.

At the time, Facebook announced that it will prohibit ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency. Facebook product management director Rob Leathern in a blogpost had said, “This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices. We will revisit this policy and how we enforce it as our signals improve.”

Now, after nearly six months since the announcement, Mark Zuckerberg led company has allowed “some ads” around the digital currency while it is working to ensure that they’re safe. Starting yesterday, the network has updated its policy to allow ads that promote cryptocurrency and related content from pre-approved advertisers.

However, that doesn’t mean that you will see a flood of content from over 1600 cryptocurrencies in the world. Facebook wrote in a blog post that advertisers will still have to get Facebook’s consent and approval by submitting an application that includes any licences they have obtained, whether they are traded on a public stock exchange, and other relevant public background on their business. 

Given these restrictions, not everyone who wants to advertise will be able to do so. But the social network giant is willing to listen to feedback, look at how well this policy works and continue to study this technology so that, if necessary, it can revise it over time.

However, Facebook will continue to prohibit ads that promote binary options and initial coin offerings. Users can report content that violates the advertising policies by selecting ‘report ad’ in the upper right-hand corner of any advertisement.

While Facebook, Google and Twitter banned cryptocurrency ads, Facebook is the first one to partially roll back.