All ads that are targeted at promoting cryptocurrencies on Facebook have been banned.
This development was revealed in a blog post that was posted on the Facebook blog by Rob Learthern, the product management Director of Facebook.
The move will affect ads on Facebook core apps such as Instagram and also in other places where Facebook sells ads.
Facebook reiterated its commitment to its teeming users in making sure that users discover new products and services without fear of getting scammed.
"This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices, and enforcement will begin to ramp up across our platforms including Facebook, Audience Network, and Instagram. We will revisit this policy and how we enforce it as our signals improve"
What do you think about this new development?