Facebook announced its new advertising policy which bans ads that promote bitcoin and other cryptocurrencies in an effort to protects its users from "financial products and services frequently associated with misleading or deceptive promotional practices."
“We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception,” Robert Leathern, a Facebook product management director, said in a company blog post. “That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith.”
That means no advertiser — even those that operate legal, legitimate businesses — will be able to promote things like bitcoin and other cryptocurrencies, initial coin offerings — ICOs for short — or binary options, according to a Facebook blog post.
"This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices, and enforcement will begin to ramp up across our platforms including Facebook, Audience Network and Instagram," he wrote. "We will revisit this policy and how we enforce it as our signals improve."
