Facebook bans cryptocurrency ads
By Kai Sedgwick Translation: Ina
Of the many sites that can learn about cryptocurrencies, Facebook is probably the worst. Its users tend to be simpler and more likely to be targeted by scammers than those who regularly use other social networks. Celebrities such as James Altucher have become the nasty faces of Facebook users, and their plans to quickly amass money have further revealed the downs of Bitcoin.
Rob Leathern, Facebook's director of product management, wrote in a post Tuesday:
"We want people to keep discovering and understanding new products and services through Facebook ads without fear of being caught up in fraud. In other words, there are a number of companies that are promoting binary options, ICos, and cryptocurrencies, all of which currently operate without integrity. "
He added:
"Our work is designed to more effectively detect deceptive and misleading advertising practices and to strengthen the management of our platforms, including Facebook, Audience Network and Instagram."
Banning cryptocurrency advertising will benefit the cryptocurrency community. Scams such as Bitconnect and Arcebank have previously been promoted on Facebook and, if they were on Twitter, could have been discovered by users of their poisonous tongues. But under Facebook's new policies, such as "The Latest ICO!" Buy tokens now and enjoy a 15% discount! "Such ads will be banned.
Facebook's policies on advertising have always been complicated. For example, it does not allow many health food and nutrition ads, nor does it seem to allow ads to show male bodies. Currently, the ICO and cryptocurrency programs are also included in its prohibited content. There is an idea that a good ICO project doesn't want to be advertised through paid advertising in the first world, especially if it's shown. If a product is truly innovative and worth investing in, there are many ways to create heat and form an active community even without Facebook.
This article represents only the author's personal views, does not represent the position of blockchain pencils, does not constitute investment advice, the content is for informational purposes only.
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