- Facebook (FB +0.5%) is banning ads that promote cryptocurrencies, a sweeping policy that covers bitcoin as well as other initial coin offerings designed to err on the conservative side.
- That's an "intentionally broad" approach to prevent "financial products and services that are frequently associated with misleading or deceptive promotional practices," including binary options as well.
- "We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception," the company says in a blog post. "That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith."
- Enforcement will ramp up across platforms including Facebook, Audience Network and Instagram, it says, and it will revisit the policy "as our signals improve."
- Related tickers: OTCQX:GBTC, COIN, RIOT, OSTK, SSC, MARA, UEPS UEPS, OTC:BITCF, XNET, GROW, OTCPK:BTSC, OTCQB:BTCS, OTCQB:MGTI, OTCPK:BTLLF SRAX, OTCPK:GAHC, OTC:ARSC, OTCPK:USTC, OTCPK:BLKCF, COINB, LFIN
- Now read: Facebook: What I Expect Fourth Quarter To Look Like
Original article