Meta which was previously known as Facebook, will now be allowing cryptocurrency advertisements on its social media platforms. The development is a reversal of a previous policy and is coming at a time when the company now acknowledges licenses from up to 23 countries.
Meta made it known that the Cryptocurrency market has come of age and now has a level of clarity with regards to regulations. With this being put into consideration, Meta has now allowed some kinds of cryptocurrency advertisements on its social platforms. It also now accepts 27 licenses. This is significantly higher than the total of 3 licenses that it previously accepted for advertisements.
All the licenses in question, have been granted by the national regulators in various countries. Meta only recognizes the licenses that have been granted in 23 countries.
Read Also: Meta Will Now Allow Cryptocurrency Payments On WhatsApp
For crypto lending platforms, mining hardwares, mining softwares, cryptocurrency wallets and crypto exchanges however, they will all need to get approval from Meta before being able to run any advertisements on the company’s platforms.
The news is coming at a time when the company; Meta has made public its intention to create a Metaverse.
Read Also: Facebook Is Now Meta
In October of 2021 the company rolled out its very own cryptocurrency wallet which it called Novi, proof of its interest In cryptocurrencies.
It later changed the name of the cryptocurrency wallet from Novi to its present name; Meta.
Meta has also created a 50 million Dollar (around 5.85 billion Kenyan Shillings) fund which will be channeled into projects related to the Metaverse.
How informative was this article? Are there any other news topics, categories, or How To topics, that you would like us to write on? Feel free to reach out to Mpesa Pay in the comment section.
