Facebook: Ban on Cryptocurrency-related ads

Facebook Inc have recently stated that it will ban adverts which promotes financial products and services attached to cryptocurrencies. The business added it to its list of “prohibited content”.

According to Facebook’s product management director, Rob Leathern, the social network have initiated a new policy which prevents any associations with misleading promotional activities such as cryptocurrency, initial coin offerings and binary options.

The new procedure will be put into action across all of its platforms, including Facebook, Instagram and  website that are part of Facebook’s “Audience Network”.

Examples of banned adverts include “Use your retirement funds to buy Bitcoin!” and a link that lead users to an apparent “no risk cryptocurrency”.

The Financial Conduct Authority also announced in December of 2017 that it would be intensifying its analysis of cryptocurrency offerings but also is said that it will be examining as to whether the sector would be confronted with “undue regulatory hurdles”.