Jan 31

Facebook Takes Unprecedented Stance Against Cryptocurrency

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Facebook announced in a blog post that it has enacted a new policy that “prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices.”

As it turns out, the majority of adverts that this policy will affect deal with binary options, initial coin offerings and cryptocurrency.

The policy is intentionally broad so as to cast the widest net, and thus, supposedly, keep its users the safest. Any advertorial content that falls under this new policy that users feel should be allowed can still be disputed with Facebook’s help desk. However, Facebook still admits that even with this policy, it still might not catch every misleading or deceptive ad.

With regards to how this will affect the prices of crypto, it’s unknown. The market is already fickle and highly malleable with the slightest provocation, so even banning ads on Facebook could adversely effect the prices of already established coins.

Facebook says that the policy will adapt and become more focused as analytics improve.

   

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