If you’re interested in investing in Bitcoin or any other form of Cryptocurrency, Facebook is not the place to learn about. The social media giant revealed in a blog post that it will be banning all ads that promote cryptocurrency.
The move comes with the announcement of Facebook’s new Ad’s Policy that includes Bitcoin and other forms of legitimate cryptocurrency in a blanket ban. The company is trying to improve the integrity and security of their ads and want to make life extremely hard for scammers to make a profit off the social media platform.
Facebooks Product Manager Robert Leath explains in the post “Two of our core advertising principles outline our belief that ads should be safe, and that we build for people first. Misleading or deceptive ads have no place on Facebook. We’ve created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency.
The ban may not be permanent as they do promise to revisit the policy and how they enforce as signals improve. Facebook has been under intense scrutiny after it was learned Russian backed hackers used the popular social media platform to push propaganda to influence our past Presidential election and hurt the Hillary Clinton’s campaign. They understand the new Ad’s Policy may not catch all ads that should be removed but hope users will assist in pointing them out.
This move also follows the recent appointing of the companies first non-white board member, American Express CEO Kenneth I. Chenault. Facebook still has some work to do as a company but these are steps in the right direction in fixing the social sites glaring issues.
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