As a part of recent advertisement policy update of one of the greatest social media platform, Facebook, has recently banned all the incoming and existed cryptocurrency advertisement that has been promoted to its platform. Facebook Bans Cryptocurrency.
The company (Facebook)”s product director Rob Leather has announced the ban of cryptocurrency
“Ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency. Please click here to learn more,” the new policy reads.
Although, they haven’t mentioned any cryptocurrency name on their policy. However, it includes all cryptocurrencies like Bitcoin, Lite coin, Ripple, Ethrum and etc. Some of the examples include ads providing discounted ICOs, asking users to pay retirement funds in Bitcoin, etc.
This move from Facebook could “better detect deceptive and misleading advertising practices” and safeguard users from online scammers running false offers and trying to pump hard earned money out of people’s pockets. The new advertising policy applies to the company’s platforms including Facebook, Instagram, and Audience Network.
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