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Facebook is reversing its ban on cryptocurrency-related ads, though advertisers will have to be pre-approved and initial coin offerings will still be banned. Skip Navigation. The move comes after the company, which is now called Meta, tried and failed to launch a cryptocurrency that could be used to send money online to anyone in the world via Facebook products. Previously , the company said advertisers could submit an application and include information including any licenses they obtained, whether they were traded on a public stock exchange or other relevant public background on their business. Facebook is reversing its January ban on cryptocurrency ads, though advertisers will have to be pre-approved and ads related to initial coin offerings or binary options are still be prohibited , the company announced in a blog post.