Hello friends.
Welcome to my blog once again as I brush you through this article.
Mark Zuckerberg the owner of the popular social network Facebook is banning all ads that promote bitcoins and other cryptocurrencies, in an effort to prevent people from advertising what the company is calling “financial products and services frequently associated with misleading or deceptive promotional practices
That means no advertiser — even those that operate legal, legitimate businesses — will not be able to promote things like bitcoin and other cryptocurrencies, initial coin offerings — ICOs for short — or binary options.
James Altucher “crypto-genius” 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.
Ads that violate the company’s new policy will be banned on Facebook’s core app, and other places like Instagram and its ad network, Audience Network, which places ads on third-party apps.
“This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices,” wrote Rob Leathern, one of Facebook’s ad tech directors. “We will revisit this policy and how we enforce it as our signals improve.”
The cryptocurrency boom/bubble has led to scams and wild price fluctuations that have cost a lot of people — including unsophisticated investors — a lot of money. Scams are illegal, but gambling on investments you don’t understand is not.
I am thinking this could be one of the reasons why he decided to ban these ads,due to the scams going on nowadays it could spoil the platform and reputation of facebook.
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