Facebook has recently banned ads that promote cryptocurrency related services. According to the social media giant, any financial products and services that are associated with deceptive or misleading promotions are banned.
The main idea is to stop scammers and frauds from trying to deceive people with fake investing opportunities. Facebook has said in its policy that there are several companies that promote cryptocurrencies, ICOs and binary options, but those companies are not “operating in good faith” at the moment.
Some people may complain that Facebook’s policy is unnecessarily broad. Instead of having a policy that covers such a vast area of operation, it should have specified targets. According to Facebook, the policy has been made so intentionally. As it continues to develop its process of detecting scams individually, it will keep updating its policy simultaneously.
Facebook Cryptocurrency Policy Not Enough
Facebook acknowledges the fact that it is not possible to crack down every scam with the new policy, even though it will definitely make it hard for deceivers. That is why it is encouraging its users to report content whenever they see some dubious ads.
Facebook has given some examples of ads that won’t be allowed. According to our interpretation, the following ads won’t be allowed.
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We advise you to be careful before investing in Facebook ads. It may all go waste as your ads may be banned.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]