Facebook has banned all advertising for cryptocurrencies because they are “frequently associated with misleading or deceptive promotional practices”.
The company added the rule to its advertising policies on Tuesday, in an update to its list of “prohibited content”.
“We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception,” said Rob Leathern, a product management director at the social network. “That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith.”
Specific examples of banned adverts offered by Facebook include “Click here to learn more about our no-risk cryptocurrency that enables instant payments to anyone in the world” and “Use your retirement funds to buy Bitcoin!”
Leathern described the policy as “intentionally broad”, and promised that it would be revisited over time as Facebook learns to “better detect deceptive and misleading advertising practices”. In the meantime, however, the policy applies not just to Facebook itself, but also to adverts on Instagram and to external websites that are part of Facebook’s “audience network”.
Read the entire Article on the same topic here: https://www.theguardian.com/technology/2018/jan/31/facebook-bans-ads-cryptocurrencies-scams
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