Facebook reverses ban on some cryptocurrency ads

Facebook on Tuesday, reversed its earlier cryptocurrency ad ban, allowing some pre-approved advertisers to promote crypto businesses and services on its website.

Interested advertisers will have to go through an application process to determine their eligibility, the social networking website said in a statement.

The Menlo Park, California-based company, which had banned all crypto ads on the service back in January, said interested advertisers may have to show Facebook “licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public background on their business” in order to receive permission to run crypto ads.