Facebook reversed cryptocurrency ad policy ahead of Libra announcement

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Facebook, the social media platform used by billions, had banned cryptocurrency related ads for a year and a half starting in January of 2018. During this time period, Facebook’s ad approval algorithms and moderators were so sensitive to potentially cryptocurrency tangential ads that even ads for physical events that had cryptocurrency sponsors weren’t allowed. An ad could have a simple image of the Bitcoin logo or feature a URL that had a cryptocurrency in the blurry background and that would trigger Facebook’s anti cryptocurrency ad policy and cause a takedown. Facebook’s anti cryptocurrency policy in 2018 also extended to Instagram and ads placed on third party sites through their Audience Network, Facebook’s ad network.

Facebook essentially called every cryptocurrency from the original Bitcoin to the newest initial coin offering (ICO) bad things. They were lumped together and referred to as:

“Financial products and services frequently associated with misleading…