Facebook and Instagram Are Banning All Cryptocurrency Ads Including BTC, Calls Crypto "Misleading and Deceptive"
Today Facebook announced that they would be banning all ads relating to bitcoin and cryptocurrencies.
In a statement the company said, “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.”
Rob Leathern, one of Facebook’s ad tech directors said, “This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices. We will revisit this policy and how we enforce it as our signals improve.”
I guess we wont be seeing “crypto-genius” James Altucher's picture on Facebook anymore.
The ban also applies to Instagram as well.
(sources for article are hyperlinked at the site above)
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LOL, they are scared, good.
Good to see Facebook taking some initiative to stop scams, though some good projects will get less press now but hope FB finds a solution sooner to identify Scammers.
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https://steemit.com/introduceyourself/@elexg/inroduceyourself-hi-steemit-this-is-elex-whoami-read-in-for-my-identity
So is this good or bad? I see it going either way imo. Good that they are cutting themselves out of the crypto game or seemingly doing so, but bad sending a message to the masses on their platform that crypto is somehow bad and possibly swaying them from looking into it. I have other pros and cons but these seem most important to me atm.
The only ads that i ever saw were total garbage and most likely scams anyways so its a good things. I doubt there were any BTC ads anyways.
FB sucks. I've been leaving nothing but a steady stream of Steemit links for months now. Some of my followers have gotten the hint.
Altucher is no crypto genius. I read his book "Choose Yourself" and in it he said that he invested 1% because he thought it had a 1% chance for success. That was 2014. By the time I got in a year ago, he was still dismissing it.
Corporations are the new Oceania