Facebook reconsiders and eliminates restrictions on cryptocurrencies but will continue to prohibit ICO advertising
The social media giant, owner of Instagram, announced on Tuesday, June 26, that a publication on its website will once again allow the advertising of cryptocurrencies, while those of ICO will continue to be prohibited.
In the statement Facebook says that in recent months have better analyzed the change that the ban applied to advertisements on their platforms, and have found an intermediate that allows some announcements of cryptocurrencies and related products; and at the same time working that they are safe and that they will pre-approve each advertiser.
But ICO's advertising will continue to be banned, as they find an important security breach for Facebook and Instagram users and applying a pre-approval of each is a logistically very complicated issue.
"Prohibit advertisements that promote products and services that are frequently associated with deceptive or fraudulent practices, such as binary options and ICOs"
The company ensures that the policy is intentionally broad while working to improve the detection of deceptive advertising practices. "We will constantly improve these policies as long as their application presents us with more and better signals."
Advertisers who wish to present their ads for products and services in cryptocurrency to be "pre-approved" will have to fill out an application for Facebook to assess their eligibility, as well as any circulation or sale permits for their product in digital currency, that the legislation of your country, state or region require, since according to the company, this is an antecedent that validates that the advertising is not a scam and the approval of the announcement is more likely and faster approval.
"Given this prohibition, not everyone who wants to advertise can do so. We know it, but we will listen to your comments, studying your proposal and over time review it and perhaps approve it "
Finally in the statement Facebook encourages its users to help prevent and eliminate any advertising that they consider misleading, do not hesitate to report any advertisement that they believe may be fraudulent products or services, as the continuous information and feedback on the part of the users helps to improve possible future changes in its policy.