Meta will ease restrictions

Meta will ease restrictions on cryptocurrencies

Meta (formerly Facebook) announced last Wednesday that it would ease restrictions on private advertising related to cryptocurrencies.

The company expanded the number of licenses governing Bitcoin advertising from 3 to 27, allowing companies in other sectors to use its platforms to market their services and products.

To post an advertisement, the company requires a written request. In mid-October, Meta launched a trial of its Novi digital wallet in the United States and Guatemala after a two-year wait due to restrictions on joining the Bitcoin market.

Meta CEO Mark Zuckerberg aims to simplify the company's content moderation policies, which have previously led to excessive censorship and errors. By empowering diverse users to shape contextual information, Meta hopes to address bias concerns while maintaining a free flow of ideas across its platforms, including Facebook, Instagram, and Threads.

Zuckerberg highlighted that the change is consistent with Meta's overall goal of returning to its roots as a platform for free expression. In addition to launching Community Notes, Meta intends to restore the visibility of political content in user feeds, reversing previous decisions to minimize such content. 

To allow for a more inclusive conversation, restrictions on sensitive themes such as immigration and gender will be lifted.

 To keep the focus on critical issues, Meta will adjust its filters to prioritize serious policy violations like terrorism, child exploitation, drug trafficking, and fraud. Furthermore, the firm plans to shift its content review team from California to Texas in order to increase trust in its moderation operations.

A Meta shareholder recommends to Mark Zuckerberg’s firm to convert part of its 72 billion dollars in cash into bitcoin to safeguard against inflation. This endeavor is part of a bigger campaign aimed at forcing internet firms to diversify their reserves into cryptocurrencies.

Can Meta put its billions into Bitcoin?

Ethan Peck, a Meta stakeholder, has recently made a bold suggestion to Mark Zuckerberg's firm. His goal is to transfer a portion of Meta's 72 billion dollars in cash into bitcoin to combat inflation. According to his calculations, Meta may already have lost 28% of its cash worth owing to monetary depreciation.

Meta is concerned about NFTs and monetization.

Meta's primary concern is how new crypto and NFT legislation will affect the Metaverse's revenue streams. At the same time, the company notes the "extensive non-financial applications" of NFTs, which are still tokens on a blockchain. The primary pillar of NFTs is their open market resale. Meta appears to be attempting to have it both ways.