The ban will work on Facebook, Instagram and the Audience Network advertising platform. Cryptocurrency advertising is now on Facebook's list of banned products, along with tobacco, alcohol, pornography and others.
The new rules are quite extensive. This was done specifically so that Facebook could more carefully monitor advertising that misleads users.
A large number of companies that advertise cryptocurrency or binary options often turn out to be scams. For example, attackers can use a phishing scheme to try to steal cryptocurrency from Facebook users. Such projects include: Waves Platform and Stellar.
Rob Loewen, managing director of Facebook, noted that the company is interested in ensuring that users learn about new products on the network in an honest way. As a result of this, it was decided to introduce a ban.
The most interesting thing is that at the beginning of the year, Facebook CEO Mark Zuckerberg noted that he was very interested in thoroughly studying cryptocurrency and various encryption technologies with possible subsequent implementation in Facebook.
In the network rules options for prohibited advertising are now described.
Furthermore, Facebook representatives ask users to report if they see prohibited advertising on the network.
The new ban is not entirely categorical. Over time, as the network is able to track fraudulent projects and distinguish them from honest market players, conditions may change.
We'll wait and see.
It will be especially interesting to see how Facebook will ban users who post news about the ICO that Telegram is currently conducting.
You May Also Like
AMF demands that Dominique Lacroix return the funds received during the ICO
Dominique Lacroix, one of the founders of the fraudulent ICO Plexcoin, paid out more than $3 million in Bitcoin according to a ruling by the Quebec Financial Markets Authority (AMF). The regulation is one of several created by North American authorities to combat fraudulent ICOs and other illegal cryptocurrency-related activities.
Cryptocurrency conquers the Russian Far East
They started talking about the “Russian crypto valley” project in the Far East last year. And at the end of February, the proposal was accepted for official discussion by the Central Bank and the government of the Russian Federation. While awaiting an official decision, the region is actively taking steps to develop the crypto industry.
