Facebook to ban promotional ads of financial products and services tied to cryptocurrency and ICO

On 30 January, Facebook Inc said that it will ban ads promoting financial products and services tied to cryptocurrencies and initial coin offerings.

A Facebook logo is seen. Reuters.

A Facebook logo is seen. Reuters.

“We’ve created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency,” Facebook’s product management director, Rob Leathern, said.

The new policy will be implemented across its platforms, including Facebook, Audience Network and Instagram, the company said.

Recently Digimine, a cryptocurrency mining bot was found on Facebook Messenger globally. It was first observed in South Korea. It reportedly works only on the web or desktop version.

With inputs from Reuters


Published Date: Jan 31, 2018 07:11 AM | Updated Date: Jan 31, 2018 07:11 AM