Facebook keeps giving people of liberty more and more reasons to find viable alternatives to the platform. Its latest move is the draconian action it took regarding advertising for cryptocurrencies. Facebook has decided that it will be banning all cryptocurrency advertising at least until they can figure out what “deceptive and misleading advertising practices” are.
While you do that, some of us will be heading on over to some alternative social media platforms like steemit.com, or even minds.com.
|Facebook is banning all ads promoting cryptocurrencies — including bitcoin and ICOs|
Facebook is banning all ads that promote cryptocurrencies, including bitcoin, in an effort to prevent people from advertising what the company is calling “financial products and services frequently associated with misleading or deceptive promotional practices.”
That means no advertiser — even those that operate legal, legitimate businesses — will be able to promote things like bitcoin and other cryptocurrencies, initial coin offerings — ICOs for short — or binary options, according to a Facebook blog post.
That also means that “crypto-genius” James Altucher, whose ads have appeared all over the internet and have become a meme of sorts for the entire crypto industry, won’t be able to advertise on Facebook.
Ads that violate the company’s new policy will be banned on Facebook’s core app, but also in other places where Facebook sells ads, including Instagram and its ad network, Audience Network, which places ads on third-party apps.
“This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices,” wrote Rob Leathern, one of Facebook’s ad tech directors. “We will revisit this policy and how we enforce it as our signals improve.”
|Read More at recode.net|