Facebook, Instagram Banning All Bitcoin, ICO, Other Cryptocurrency Ads

Facebook is banning cryptocurrency and ICO ads

Facebook's newly issued ad policy will also prohibit advertisers on promotions for binary options and initial coin offerings (ICOs).

Facebook has initiated a ban on advertisements for cryptocurrencies and initial coin offerings on its platform.

The move is particularly interesting given Facebook CEO Mark Zuckerberg's interest in cryptocurrency.

Leathern acknowledged that the policy may hit some legitimate ads as well. "That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not now operating in good faith", wrote Robert Leathern, a Facebook product management director, in a company blog post.

Facebook allows ads for sensitive financial topics, with some restrictions. "That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not now operating in good faith".

A Facebook spokesperson told Business Insider that the new rule bans all ads related to cryptocurrencies - not just those directly trying to sell cryptocurrencies or cryptographic tokens.




"This policy is part of an ongoing effort to improve the integrity and security of our ads, and to make it harder for scammers to profit from a presence on Facebook", Leathern wrote.

Also of note is the fact that the ban isn't limited to the core Facebook product.

That also means that "crypto-genius" James Altucher, whose ads have appeared all over the internet and have become a meme of sorts for the entire crypto industry, won't be able to advertise on Facebook.

The company noted that it might not catch all the ads that should be removed under the terms of its new policy, so it advises users to report any ads that violate its ad policies.

The social media giant posted the new policy to a company blog today.

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