The updated advertising policy of Facebook mentions binary options, cryptocurrencies and ICO. In particular, advertisements that directly relate to the above products, as well as services “that are often associated with misleading practices,” fall under the ban, “writes the director of Facebook, Rob Lizern in his blog.
Cryptocurrencies, including Bitcoin, Ethereum and Ripple, have gained considerable popularity, due to which a large number of fraudulent schemes related to digital assets arose. Although Facebook claims to want people to “continue to discover and learn” products and services from this category, “a large number of companies have appeared that advertise binary options, ICO and cryptocurrencies, without being guided by good intentions.”
Lizern admits that the new shutdown is quite ambitious, while noting that he was made so deliberately. Facebook will continue to improve its practices aimed at combating unreliable announcements that mention cryptocurrency, ICO and binary options.
Over time, the company will reconsider its policy in this regard when its mechanisms designed to detect malicious ads will work better. Until this happens, Facebook encourages users to report any violations of the rules.
Recall that at the beginning of the month the founder of Facebook Mark Zuckerberg hinted that in the future in its social network can also be integrated cryptocurrency.