The social networking site Facebook has been hit hard by the "Bitcoin" currency, where it has announced the ban on all digital currency advertisements, the Washington Post reported.
Facebook said on Tuesday that advertising products "often associated with misleading and deceptive promotional practices" would not be displayed, adding "specifically digital currencies that use malicious methods to attract new investors."
"We want people to continue to discover and recognize new products and services through Facebook ads without fear of fraud or deception," said Rob Leitern, Facebook product manager.
The announcement comes weeks after the founder of the site, Mark Zuckerberg, strongly recognized the digital currency.
"These currencies came in ways that make it difficult for central systems to control them," he said on his official Facebook account. "I am interested in studying the positive and negative aspects of these currencies and how to use them and rely on them in our services."
Source:
http://www.telegraph.co.uk/technology/2018/01/30/bitcoin-tanks-facebook-bans-cryptocurrency-adverts/
https://cointelegraph.com/news/facebook-bans-cryptocurrency-ico-ads-because-of-deceptive-promotional-practices