Facebook bans ads for cryptocurrencies

[bechay20]

Well, it is a very old ossue that facebook already started banning Ads about cryptocurrencies, that is why it is impossible to have or to join a Facebook Campaign before. But, as of now, I can see that they already opened the facebook for ICO so, SNS campaigns are back!.

[btccrusher]

What about the bounty?I'm part of a Facebook campaign.

Bounty as far as I know remains intact because of this ruling, but I wouldn't know 100% as I don't use FB to begin with. You had to imagine though places you are shilling financial advice they are going to shut you down, especially when people complain.

I'm not sure if this is the reason, but every time I post something with a link and tagging #ICO or related words, it gets removed by the auto spam filter (FB). Also, my Facebook account already got banned and can not be recovered. The reasons they are showing, I was over promoting illegal stuff. But I only used to post ICO/Bounty program related posts. I think there is some unofficial limitation which FB never revealed yet.

[portotoi]

As i had observed from the facebook today, i can still see any ads on cryptocurrencies. I don't think facebook already ban the crypto currencies advertisement. Instead many ICO are using the facebook for the advertisement on their project for it is very effective way for promoting their ICO and inviting investors and bounty participants.

[Daimon88]

Dude, that’s an old story. If you’re hearing it now, then you’re hearing it late. They stopped every advertisement that has to do with crypto and ICOs for a long time now. I noticed that ever since this year lots of people and organizations has been kicking against Bitcoin. Don’t know if this year is gonna be better than 2017… but I keep on hoping that it does.

[rommelo24]

This is running for some time time now. But i guess the ban was not effective enough because i still sees ads regarding cryptocurrency and ICOs in my Facebook newsfeed.

[Smarty14392]

Another fud to bring the cryptocurencies down. I think we should see this as another attack and bitcoin price may come down because of the way many people on Facebook may interpret this. Bitcoin and blickchain technology can been used for scam but that doesn't mean any other forms of money can also be used for scam and fund raising. Facebook and Microsoft were in favor of bitcoin and other cryptocurencies before but lately there have started to attacked it for the reason best known to them.

yeah i think its a fudd people dont hesitate to use facebook to promote or advertise bitcoin and other altcoin.

Absolutely just to degrade bitcoins in eyes of general public. These fuds are created by the haters who don’t want bitcoins to be raised all over the world. They see them being famous and popular at different levels and they couldn’t bear it positively. So such wrong news started coming out of the boxes and we, being trustful users of bitcoins, are listening them, and believing in them.

[sean-qualified]

WASHINGTON- Facebook says it is banning all ads related to cryptocurrencies in an effort to fight scams.

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."

I don't believe this will have that significant of an impact, tactics will, however, have to change. For example, bounty campaigns incorporating facebook will be more heavily used. As will promoted posts related to the actual end-product, promoting your idea isn't banned only directly advertising an ICO is banned.

[Sidiq SP]

hopefully soon there is a meeting point between facebook and cryptocurrency, I also hope soon there is a solution from facebook for us who are moving to advertise bounty projects, and hopefully there is no ban so we can still continue to work and promoting bounty projects that we follow,

[WannaCry]

I really think that the start of the year had been bad for cryptocurrency because a lot of FUD had came since bitcoin hit it's ATH at $20,000, and I think this is one of them. Maybe huge market players are manipulating and spreading this new for them to bring down the price and buy it again at a cheap price. They are trying to shake off weak hands and people who panic because of it is helping them a lot.

[lablab03]

This is running for some time time now. But i guess the ban was not effective enough because i still sees ads regarding cryptocurrency and ICOs in my Facebook newsfeed.

but now maybe you will not see some ads about crypto and any related content  in your timeline even though on google. 'cause they now confirmed to restrict advertisement on their platform. By the way for more information click this link.

[RedzoneASE]

WASHINGTON- Facebook says it is banning all ads related to cryptocurrencies in an effort to fight scams.

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."

Initial coin offerings or ICOs are a way for companies to raise funds by selling investors cryptographic assets.

Fraud is common in the world of red-hot digital currencies such as bitcoin.

This week, for instance, the US Securities and Exchange Commission shut down an initial coin offering by a Texas company called AriseBank.

AriseBank was accused of relying on celebrity endorsers such as boxer Evander Holyfield and social media to cheat investors out of $600 million of its goal of $1 billion for a currency it called "AriseCoin."

In a blog post announcing the news, Facebook product management director Rob Leathern hinted that Facebook may modify the new policy at some point to allow bona fide crypto-related businesses to advertise again.

"We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception," Leathern wrote.

"That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith."

"This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices, and enforcement will begin to ramp up across our platforms including Facebook, Audience Network and Instagram. We will revisit this policy and how we enforce it as our signals improve," he added.

read more here : http://news.abs-cbn.com/overseas/01/23/18/facebook-admits-social-media-threat-to-democracy

Well I don't think they can afford losing million of dollars in banning crypt. They gain alot in advertising crypt on Facebook which is beneficial for both sides.

[jakagintiri]

I think it's normal and legitimate, because Facebook also does not want users cheated, many irresponsible parties use it to seek personal gain and instead lead to cheating.
This decision is not permanent and Facebook will review the rules to get better policies to detect and remove deceptive ads.

[malikusama]

Hypocrisy at its best, they are promoting every shit on facebook ads just for money but they can’t allow cryptocurrencies to promote because these currencies are major threat to government and banks.
Financial institutions are trying to relate scams with cryptocurrencies to bring down popularity and keep the public away from it's use.

[fiomcorka]

hopefully soon there is a meeting point between facebook and cryptocurrency, I also hope soon there is a solution from facebook for us who are moving to advertise bounty projects, and hopefully there is no ban so we can still continue to work and promoting bounty projects that we follow,

Facebook is really good when it comes to advertisement, and I like to make use of it when advertising some products. It’s more useful to me than other social medias. With Facebook, you will be able to reach a huge audience than when you’re making use of other medias. We can’t be really sure, but let’s just hope that in future they will consider allowing the promotion of ICOs with their platform, but that wouldn’t be with out strict terms & conditions.

[joebrook]

PLEASE SIGN OUR PETITION STOP THE BAN ON CRYPTO ADVERTISING ON SOCIAL MEDIA PLATFORMS.
 https://www.change.org/p/google-inc-google-and-social-media-platforms-to-revert-their-ban-on-crypto-currency-advertisements?recruiter=841422338&utm_source=share_petition&utm_medium=copylink&utm_campaign=share_petition&utm_term=share_petition

I will not be one of those who are going to sign this petition because the cryptocurrency ICO's are mostly not regulated and because of that lots of people have taken advantage of it and are ripping and scamming people of their hard earned money. I fully support the ban.

[Hadji]

More than sure, if they were paid for advertising, it would be another matter, they thought they were thinking about people, or they themselves want to participate in the bounty =)

[Erik234]

Why are you bringing up a stale news? This happened since late January already and there has been so many topic that has been dealt with respect to this.

Facebook clearly stated the reason why they had to do this, which was as a result of not being able to have time or ways to differentiate between scams and real projects, and they just had to revisit their ad policies until further notice to protect their users. It is not an attack on cryptocurrency like some of you are already putting it please.

Complete agreement. When crypto market became popular it attracted a lot of scammers and scammers , to distinguish a normal project from deception is very difficult, Facebook and Google banned advertising for one simple reason, they protect their users.

[hidingyou]

Another fud to bring the cryptocurencies down. I think we should see this as another attack and bitcoin price may come down because of the way many people on Facebook may interpret this. Bitcoin and blickchain technology can been used for scam but that doesn't mean any other forms of money can also be used for scam and fund raising. Facebook and Microsoft were in favor of bitcoin and other cryptocurencies before but lately there have started to attacked it for the reason best known to them.

You have a point though about the news , maybe causing a drop but I say that must times, the news we expect to cause a downward might not really be that way. Last year, when the news of Chinese ban on icos hit the air waves, it didn't cause any drop but, a further push upwards. I hope it does not bring the coin down this time.

Yeah youre right facebook not absolutely banned crypto but maybe they minimize their sites to put the link of crypto curremcy and shares the idea of it.Just reslect their decission and we have to move forward because its onlt one sites and theres a lot of sites aupported on us.

[plaintiff77]

It would not be a great news if they ban ads for crypto in facebook. But then, facebook has its own reason why they decided for this. This could have the situation that affects the present price of bitcoin. Let us just be hopeful for thr bitcoin price to recover.

[IndzheborgC]

It is not an easy task to distinguish scams from advertised crypto coins, even for specialists. If you make a separate ban, it's expensive. Therefore, Facebook has banned all advertising crypto coins. Scam selection will cost more than advertising revenue.

Another version of the ban - a large number of uninformative messages from signature companies, cluttering up the social network.