Facebook Bans Bitcoin and ICO Ads.
CNBC reported earlier today that 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 will be able to promote bitcoin, other cryptocurrencies, or initial coin offerings — ICOs for short — this will also extend to binary options, according to a Facebook blog post.
Facebook further mentioned that ads that violate the company’s new policy will be banned on Facebook’s core app and also in other places where Facebook sells ads, including Instagram and its ad network, Audience Network, which places ads on third-party applications.
This is yet another swipe at the Bitcoin/crypto community and might be a sign of things to come.
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