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Facebook bans Bitcoin in an effort to end misleading ads

Facebook bans Bitcoin in an effort to end misleading ads

Facebook represses deceptive sellers and Bitcoin is in the line of fire. As part of Facebook’s attempt to remove misleading or misleading promotional practices from its social network, ads that promote cryptocurrencies such as Bitcoin or initial coin offerings (ICOs) receive assistance.

On a post on the company’s blog Facebook product management director Rob Leathern explained that the decision was limited to the desire to protect its users from «financial services that are frequently associated with misleading or misleading promotional practices.»

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«We want people to continue to discover and learn about new products and services through Facebook ads, without fear of scams or scams,» he continued. «That being said, there are many companies that promote binary options, ICOs and cryptocurrencies that do not currently work in good faith.

«This policy is intentionally comprehensive because we are working to better detect misleading and misleading advertising practices, and the app will begin to grow on our platforms, including Facebook, the Audience Network and Instagram.»

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Facebook detail some examples which ads will not be accepted on the platform and urges users to report ads that appear in their feed that they should not otherwise.

The examples presented seem to highlight the announcements of the rapid enrichment style for cryptocurrencies and binary options. «Click here to learn more about our risk-free cryptocurrency, which allows instant payments to anyone in the world,» reads one example, while another indicates that users should «use their retirement funds to to buy Bitcoin! ”.

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Personally, I have not seen any ads on Facebook or Instagram for cryptocurrency services, and Facebook did not detail the cases in which such ads appeared. It could be a move by the social media giant to push him to the bud before such ads start popping up.

The Facebook ad network already allows ads on financial topics, but imposes severe restrictions on them. To promote real money gambling or gambling services, you need «written permission» from Facebook before posting such ads online. There is also a general ban on the promotion of «misleading or misleading» student loan advertisements, and all funding-based advertisements must be addressed to persons over the age of 18.

Over time, Facebook intends to reevaluate its position on cryptocurrency advertising once it «better understands how to address the volatile industry.» «We will review this policy and how we will implement it as our signals improve,» Leathern said.

«This policy is part of an ongoing effort to improve the integrity and security of our ads and make it harder for scammers to benefit from a Facebook presence.»