Facebook Bans ICO And Cryptocurrency Ads

It’s difficult not to be bombarded by ICO and cryptocurrency ads on Facebook these days, particularly if you’ve ever interacted with a page or post related to these interests. Some of these ads are frequently associated with misleading or deceptive practices so Facebook wants to shield its users from them. The company has created a new policy to ban ads that promote financial products and services that employ deceptive or misleading promotional practices. The ban applies to ads for binary options, cryptocurrency, and initial coin offerings.

Facebook says that while it wants users to continue to discover and learn about new products and services through Facebook ads without having to worry about scams, there are many companies that use its ads platform to advertise binary options, ICOs, and cryptocurrencies not operating in good faith.

The company has intentionally left this new policy broad as it’s going to work to better detect such advertising practices before enforcement of this policy ramps up across all of its plaforms. Facebook says that this policy and the enforcement method will be revisited as its detection signals improve.

Facebook knows that it may not catch every ad that should be removed under this new policy so it calls on users to report ads that violate the policy.

Adnan Farooqui
Categories: Web
Tags: Facebook, ICOs