Facebook bans cryptocurrency-related ads

Facebook bans cryptocurrency-related ads

Facebook will ban all ads promoting financial products and services tied to cryptocurrencies, tokens and other virtual coins.

The largest social network is changing the policy concerning cryptocurrency, announced Facebook’s product management director Rob Leathern.

“We’ve created a new policy that prohibits 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,” - said Mr. Leathern.

New rules will be introduced across all its platforms, including Facebook, Audience Network and Instagram, he added.

It means that all advertisers even those who operate legitimate businesses will not be able to promote cryptocurrencies and technologies based on blockchain.

This information raised a wave of indignation in Twitter and Facebook.

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