Facebook just banned all ads for Bitcoin, cryptocurrency and ICOs… but ads for toxic pharma drugs are perfectly okay

Thursday, February 1, 2018
By Paul Martin

by: Ethan Huff
Thursday, February 01, 2018

As part of an ongoing effort to rid the platform of what it sees as questionable content, social media giant Facebook recently announced that it will no longer allow any advertising related to financial products and services, including anything associated with initial coin offerings and cryptocurrency.

The new policy states that its purpose is to prohibit “ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices,” which apparently covers advertising related to digital currencies like Bitcoin.

Listed as examples of what will no longer appear on user feeds are statements like, “Start binary options trading now and receive a 10-risk free trades bonus!” and “Click here to learn more about our no-risk cryptocurrency that enables instant payments to anyone in the world.”

As justification for the move, Facebook insists that its goal is to allow only “safe” ads to appear in the system. It’s all part of a much larger effort by the tech behemoth to crack down on so-called “fake news,” which supposedly spread via the platform throughout the 2016 election cycle.

“We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception,” the company wrote in its public announcement. “That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith.”

For more of the latest cryptocurrency news, visit BitRaped.com.

Facebook resorting to prohibition tactics with sweeping bans on specific content

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