Facebook bans cryptocurrencies in effort to fight scams.

[lyledark10]

The social media giant said it is barring ads for "financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency."

http://news.abs-cbn.com/business/01/31/18/facebook-bans-ads-for-cryptocurrencies

[1714676685]

1714676685

[supermine]

The social media giant said it is barring ads for "financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency."

http://news.abs-cbn.com/business/01/31/18/facebook-bans-ads-for-cryptocurrencies

I don't think it is action taken to reduce the scams because still anyone can post on facebook about the ICO or the crypto currencies.I think the facebook community want to retain their reputation among the people by not doing their paid promotion because many projects are turned into scams.
So it is not an effort to stop the scam ICOs they just want to stop getting involved any kind of scam project promotion.If they really want to stop the scams they completely have to ban any ads about crypto even by the users.

[sean.maley]

The social media giant said it is barring ads for "financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency."

http://news.abs-cbn.com/business/01/31/18/facebook-bans-ads-for-cryptocurrencies

I have seen it yesterday and it made me really upset. I just started to earn some money with facebook bounty campaigns and then facebook wants to ban those advertisements. I now scared to post anything because I don't want my facebook account to be blocked.

[happycamper69]

Well there were info last year that Facebook is actually considering adding Litecoin as their payment method but this year fb went 360 to become anti cryptos.

But then again we know fb is more than happy to provide any of their user info and private pics, messages to CIA so in other words - fb sleeps with US government that is anti cryptos and anti ICOs.

[Mr.Smithers]

The ban on advertising of ICOs is a good move and it reflects only that FB wants to protect people from risky financial decisions. A lot of ICOs have merit, but a lot of them are risky at best, and well, some of them are scam all right.

On the other hand Facebook expressed that they will be researching blockchain and cryptocurrencies. I am even thinking that maybe the ban on ICO ads is one of the first results of that research. So I would think that they will be more into crypto with time. I wouldn't judge their approach to crypto based only on that one decision.