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Rob Leathern, the company’s product management director, wrote during a Jan. thirty diary post that the new policy targets “ads that promote money merchandise and services that ar oftentimes related to deceptive or deceptive promotional practices, like binary choices, initial coin offerings and cryptocurrency.”
Leathern went on to write:
“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..”
Most users of the social media web site have probably encountered ads for initial coin offerings, together with those pitching enthusiastically investment returns similarly as bonuses for early participation. alternative advertisements seen on the platform pitch investment recommendation round the crypto market.
Such ads, Leathern argued, ar being targeted as a part of associate evolving policy against probably fallacious activities on the location.
Leathern else that the policy extends to alternative platforms below Facebook’s horizon, together with the favored photo-sharing app Instagram. He urged that the policy may be modified within the future, although he did not provide any quite timeline on it front.
“This policy is designedly broad whereas we have a tendency to work to higher find deceptive and deceptive advertising practices, and social control can begin to build up across our platforms together with Facebook, Audience Network and Instagram,” he wrote. “We can come back this policy and the way we have a tendency to enforce it as our signals improve.”
source : https://www.coindesk.com/facebook-banning-advertisements-bitcoin-icos/