WhatsApp is reportedly working on a new feature that will allow users to manage their ad preferences across Status updates and Channels. This move suggests that the platform is preparing to introduce more targeted advertising.
This comes right after WhatsApp officially announced that ads are coming to statuses. Spotted first by WABetaInfo, WhatsApp is working on a dedicated "Ad preferences" panel that will allow users to gain granular control over the kind of advertisements they receive on Statuses. This is part of the WhatsApp beta for Android 2.25.19.14 update.

As you can see in the above image, users will be able to view their recent ad activity. Now, this panel will showcase a list of advertisers whose ads have been displayed to the user in recent days. Additionally, the ads history feature will offer a detailed information on all the advertisements that the user has seen via the Status tab.
Every ad will bear a timestamp and will be shown in a list format, making it easy for the user to recall the kind of ads they have engaged with and will want to avoid in the future.
In addition to this, users will also be able to view the advertisers who frequently target them. Users will also be able to permanently hide ads from specific advertisers shown in their Status or Channels feed going forward. However, visibility to these ads can be restored at any point in time.
This new control page will be accessible via the Updates tab as well as from the main settings page, accessible via the top-right aligned three-dot icon.
With that said, this feature is scheduled for a future release when WhatsApp will roll out ads to the Status and Channels tab. And as of now, we don't know how this feature will actually work on the platform. We will update you as and when anything appears.