Meta expands eligibility to run crypto ads on platform

Meta has increased the number of regulatory licences it accepts from three to 27

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Meta, the company formerly known as Facebook – Photo: Alamy
                                

Meta (formerly Facebook) has expanded its cryptocurrency ad eligibility on its platform, making it “easier” to advertise digital assets on the social media site.

Meta has increased the number of regulatory licences it accepts from three to 27 with immediate effect.

Due to this announcement, the social media business has made changes to its cryptocurrency products and services policy page.

Meta explained its reasons for the change, believing that the crypto scene has “matured and stabilised” in the past few years. “More government regulations” have also resulted in clearer rules for the industry.

The company feels these changes will “help to make our policy in this space more equitable and transparent” and assist smaller businesses to grow their audiences.

Rules set to evolve

As the crypto landscape continues to evolve, Meta may alter these new rules over time “as the industry changes”. This could include adding new eligible licences to the existing list of 27 as they emerge once Meta has reviewed them.

Novi leader David Marcus leaving Meta

 

On 30 November, David Marcus, the co-creator and board member of the Facebook blockchain-based payment system Diem, as well as leader of Meta’s fintech unit Novi, announced he is stepping down by the end of 2021.

The executive said he is leaving the Facebook cryptocurrency project to pursue other projects. His announcement came just a few hours after Jack Dorsey, former Twitter CEO, posted his resignation from the company he founded.

In a series of tweets, Marcus said: “Personal news: after a fulfilling seven years at Meta, I’ve made the difficult decision to step down and leave the company at the end of this year.

“I’m incredibly grateful to [CEO] Mark [Zuckerberg] for the opportunity and privilege to share a bit of the journey over the years. I’ll keep lifelong memories and friendships from my time at the company, and I wish it well in the years to come.

“I now look forward to having more free time in the months to come before I start building something new and exciting again. Onward!”

Marcus is considered an important figure in the crypto community as one of the first tech executives to embrace cryptocurrencies. He was previously PayPal president and member of the board at Coinbase.

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