Facebook Bans all Crypto and ICO Advertising

Facebook Bans all Crypto and ICO Advertising

Facebook is banning all advertising on its platform for cryptocurrencies and token sales, as past of a policy to crack down on deceptive marketing. Rob Leathern, the company’s product management director, wrote in a blog post that the new policy targets “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.”

“We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception. That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith.”

Leathern added that the policy extends to other platforms under Facebook’s purview, including the photo-sharing app Instagram and the television channel Audience Network. He suggested that the policy could be changed in the future, although he didn’t provide any kind of timeline, saying that as the company gets better at detecting and removing bad ads, the company “will revisit this policy and how we enforce it.”