Facebook just banned Bitcoin and ICO ads

Facebook just announced that they are no longer allowing ads related to Bitcoin, ICOs or other Cryptocurrencies. In their blog post:

We’ve created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.

Later in their post they cite fraud related to different ICO ad campaigns:

[…] there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith.

You can read their entire post @ https://www.facebook.com/business/news/new-ads-policy-improving-integrity-and-security-of-financial-product-and-services-ads

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Now, in my opinion, this was a little unnecessary. I know that there is a lot of risk regarding ICOs and potential fraud, and that Bitcoin is a volatile investment, however, I personally think it’s up to people to do their own research and choose where to invest their money based their said research (and not just based a banner ad). Furthermore, if Facebook was strictly worried about fraud they could always ban certain ICOs or ICOs in their entirety but still allow ads for Bitcoin and the like.

Just to be clear though, I’m not accusing Facebook of some sort of conspiracy against Bitcoin, I just think they went a little overboard.

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I'm @Nathan047. I mainly post news and opinions regarding Technology and Cryptos. If that sort of thing interests you then consider following me. Also, an upvote or resteem wouldn't hurt. Thanks for reading