Facebook Bans All Cryptocurrency and ICO Ads
Facebook will no longer allow advertisements which promote cryptocurrencies or Initial Coin Offerings (ICO) on its platforms because of fears that some ads are fraudulent.
In a blog post published on Tuesday, Rob Leathern, the Product Management Director for Facebook Business, said the surge of interest in cryptocurrency has led to a rise of “many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith”.
This new ban, which has already been added to its list of prohibited content, will stop any advertisements for financial products which Facebook says is “frequently associated with misleading or deceptive promotional practices”, including binary products, ICOs and cryptocurrencies.
Following yesterday’s decision, the price of bitcoin sunk under $10,000, its lowest value since the price crash in mid-January.
They obviously don't want to be seen advertising something which could be later found to be a scam, however, I believe people should instead do some research themselves and facebook should ultimately leave the decisions up to the people.
Maybe they are banning because its just a lot of ico's these days to filter out from nd most of them are fake and scammy. Facebook wouldnot want to expose their audience to such scams
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