Facebook to Ban Ads Promoting Cryptocurrencies

Written By:
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    The social Media giant, Facebook is going to ban cryptocurrency advertisements including Bitcoin to prevent promotion of deceptive practices involving them. The company is calling theses as "financial products and services frequently associated with misleading or deceptive promotional practices."

    Facebook to Ban Ads Promoting Cryptocurrencies

    In a blog post released by Facebook, it has stated the following as examples of financial products and services ads that are misleading:

    • Start binary options trading now and receive a 10-risk free trade bonus!
    • Click here to learn more about our no-risk cryptocurrency that enables instant payments to anyone in the world.
    • New ICO! Buy tokens at a 15% discount NOW!
    • Use your retirement funds to buy Bitcoin!

    As per the new policy, finance products and services associated binary options, initial coin offerings (ICO) or cryptocurrencies will be banned from Facebook's core app and all other platforms where it sells ads like Instagram and its Ad network Audience Network that places ads on third-party apps.

    This policy change will not allow even legally operating legitimate businesses to promote cryptocurrencies.

    Read more about: facebook cryptocurrency ads
    Story first published: Wednesday, January 31, 2018, 11:33 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more