Facebook Bans Cryptocurrency and ICO Ads

The company created a new policy to improve the integrity and security of ads and to make it harder for scammers to profit from a presence on Facebook

Facebook created a new policy that prohibits all advertisements for cryptocurrency and ICOs as part of an ongoing effort to improve the integrity and security of ads and to make it harder for scammers to profit from a presence on Facebook. The policy specifically prohibits ads that promote those types of products and services that are frequently associated with misleading or deceptive practices, the company said.

Leathern also said that the decision isn’t permanent and that Facebook will revisit the rules when it’s gotten better at detecting and removing bad ads.

The company will be working to better detect deceptive and misleading ads that pertain to cryptocurrencies, ICOs and binary options. Meantime, Facebook is encouraging people to report content that violates this policy.