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Facebook to allow cryptocurrency ads again

Facebook Inc. fb+0.39% will once again allow advertisements that involve cryptocurrencies such as Bitcoin btcusd+4.41% and Ethereum ethusd+7.7% The social networking company announced in January that it would stop allowing ads hawking financial products and services related to crypto, with an executive writing at the time that they "frequently associated with misleading or deceptive promotional practices." The same executive, Rob Leathern, wrote in a blog post Tuesday that Facebook would begin allowing pre-approved advertisers to promote cryptocurrencies and some related content, but would still block ads for binary options and initial coin offerings. "Given these restrictions, not everyone who wants to advertise will be able to do so," Leathern wrote. "But we'll listen to feedback, look at how well this policy works and continue to study this technology so that, if necessary, we can revise it over time." Facebook stock was trading less than 1% higher Tuesday, while cryptocurrency prices were broadly lower.

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