Facebook will block all ads on ICOs and cryptocurrencies

The United States is a country that frequently threatens the Blockchain industry and cryptocurrencies, even implementing radical regulations that move away from a correct analysis and that demonstrate partial knowledge about Blockchain and what digital currencies are offering to the financial world.

Bankers, government officials, federal agencies, etc. All have expressed some opinion in disapproval of cryptocurrencies. However, none of the technological giants of the country had been felt too much to this day.

In particular, the social networking giant Facebook has revealed a new policy within its platform that prohibits advertising that includes cryptocurrencies and Initial Currency Offers (ICOs).

Rob Leathern, the company's product management director, wrote in a blog post on the company's blog that the new policy targets advertisements that promote financial products and services that are often associated with deceptive or fraudulent promotional practices. In this regard, Leathern said:

We want people to continue discovering and learning about new products and services through Facebook ads without fear of scams or deception. That said, there are many companies that are announcing binary options, ICOs and cryptocurrencies that are not currently operating in good faith.

Most users of the social network have probably found announcements about ICOs, including those that promise very high investment returns, as well as bonuses for early participation. Other ads seen on the platform consist of investment advice around the cryptocurrency market.

Such ads, Leathern argued, are being analyzed as part of an evolving policy against potentially fraudulent activities on the site. The executive added that this policy extends to other platforms under the reach of Facebook, including the popular photo sharing application Instagram. However, the publication suggests that the regulations could be changed in the future, although he did not offer any additional details in this regard.