Facebook bans ads for cryptocurrencies

[sunsilk]

Many suspect that fb is preparing to launch their own currency

They have this type of currency before with their in game credits or facebook credit sort of stuffs.

That rumor can be also true by eliminating those ads on their social media to eliminate the potential competitors that can they may face along their promotion, facebook is doing a wise thing.

Yet, that's still a rumor but that makes it stronger and real after hiring a blockchain specialists.

[1714588795]

1714588795

[1714588795]

1714588795

[1714588795]

1714588795

[1714588795]

1714588795

[Maame Esi Sergio]

Bans are just means to see bitcoin's downfall and perhaps blockchain technology. Facebook has started the ban long ago. Some users of facebook are even suspended for promoting blockchain technology. The great news is that bitcoin cannot be teared down.

[MiukoOk]

Yeah, I heard about that, but they can not prevent us from posting news about cryptocurrency, they can just forbid a paid advertisement on their site

The news is outdated, but nowadays facebook is still banned from promoting Crypto, which is a pretty big deal for the Crypto market, partly because there are so many fraudulent ICO projects that have cheated users on facebook, because So new facebook decided to ban advertising Crypto.

[ausbit]

related to this news I have long heard it, but whether it is true or wrong I do not know, there must still be projects that include Facebook campaign. that means we still advertise Bitcoin and Cryptocurrency inside Facebook.

It was true and not recent news, but the way some people decided to portray it or see the negativity out of it was really what was mused me. Facebook, Google and the rest, categorically stated the reason behind this which was sound and solid excuse but people will rather not read the main news, believe the only thing they feel in their head and feel everything is just an attack on cryptocurrency.

I guess they must have forgotten that scam via the ad space has been an attack on the perception of cryptocurrency right from the onset and this really helped to clean up that mess.

[Goodnuel]

Is this bad for business??

[ss890]

This news came out like fire in the woods but also went of like fire extinguisher. However none of them matters really as they are still running the advertisement with full fledge. There is no limiting factor they imposed later on and I think it was just FUD news that came out on the media as well as on the forums too.

Its just that they may not ban the advertisement as they know, crypto currencies are getting more and more attention these days and with rising use of it people want to know more about them. Thus, it calls for the great demand of crypto ads and Facebook can never ban such demand as it profits them a lot. 

[laravuemaster]

Large players are afraid of the appearance of new startups which are their potential competitors. If you look back in history, almost no major player has been on top for a long time. Today, advertising is monopolized by big players. They are the only ones who have access to all segments of the market. And they are not going to give it away. They are not stupid and understand that startups are risks to them. And ICOs are startups with a huge potential.

Bitcoins has already been complained by different ico's who are advertising their platform on social media's and i believe that facebook does not want to have a problem in the future when ico's scam their participants.

[saifanik]

This is very old news that facebook bans ads for crypto.It's cause may be for some reasons that I think is scammers are active always to manipulate users in crypto.This is a decentralization system so authority can't  control scamming.And the other reason is facebook will launch their own crypto,increase of other currencies.

[nebuch]

This wasn't an easy and tryouts play. This is serious and most probably have a relation for the future plan of crypto. To banned ads is clear that there are something is going on beyond our limitations as we are not one of the member of big companies just an assumptions. Another form of newly approach of business in our society with facebook and social media regulations about that. Nowadays better to be prepared for tomorrow to have enough knowledge on every aspect of this issue.

[automaticmoney]

social media cant handle crypto decentralized market they will try to handle and restrict the market in a possible way to keep in their control but in future, we may see crypto will be friendly accepted by social media companies in large

[bocyaj]

Bitcoin has it own power.Eventhough Facebook bans ads for cryptocurrencies,the price of bitcoin will increase to good value.It will not affect the growth of bitcoin .Even Facebook had ban the crypto currency ,the crypto currency investors is increasing year to year.

[Where2Go]

I still see plenty of advertisements about crypto all over the internet I wonder if they are using some kind of other popular add provider because it seems like Google and Facebook ads aren't even that popular anymore given the recent data breach scandals going on. Overall the main thing that brought me here was seeing so much about cryptocurrency that I wanted to research and get involved with investment so it seems like whatever advertisement engine out there is being used does actually work

[ulakudrakova]

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

This is logical, since there are a lot of fraudulent ICO companies that collect money and disappear. For this reason, all the well-known major media networks (Twitter, Facebook, YouTube, adsens, etc.) do not allow scammers to develop.

[totaleclipseofthebank]

Is this bad for business??

Well, it is bad for business but it does not harm bitcoin. People who work with cryptocurrency might struggle with finding a way to advertise their product. However, nothing needs to be worried here. I think that they will know how to maintain their job. People always know how to make money

[sana54210]

they are previously taking back or loosening up there ban about cryptpcurrencies as obviously it is affecting their revenue. Blocking all kinds of crypto related ads is like shutting down an entire revenue from that industry. Even Google didn't pursue their plan on banning crypto ads. But what Google did is screen all of their ads to avoid showing off illegitimate cryptocurrencies that have a high  chance of turning out into scams.

They are not loosening up and they really did not totally ban advert right from the onset but only cleared the ongoing ones at that moment. It became a norm for anyone who wants to run an advert via any of the space to tender legal documents before their adverts can even be allowed and to me, that has really helped a lot to clean the whole ad space compared to the way it has been before.

This was the main idea and the reason that was given; people just always want to consider everything a problem rather than looking at the better side of things.

[ArIMy11]

We all know that there are so many people who are using facebook worldwide especially we Filipinos. Social media is a very influential thing. No doubt it can really attract crypto users to participate to ICOs. I am one of so many people who are joining Facebook Campaign. In fact, it is one of my source of income. Yes i am sad to hear this kind of news. I really hope bitcoin campaign still remains. Facebook or other social media campaign is not always a bad thing.

[redsun114]

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

The reason why facebook is banning cryptocurrency ads is that, not every ico today are paying their participants and some are just scamming other people, that is the reason why facebook is banning cryptocurrency ads on their social media.

Facebook is one of the emerging company on earth with most of the user’s spreader over the world. They are doing great for connecting people and that is why they don’t allow anyone to come in there and scam their users. People trust them and they can’t just sabotage this trust factor just for earning some little money for them through bitcoins. Although bitcoins aren’t scam but some ICOs are.

[KorakPawon]

Facebook updated its policies in force to prohibit all ads related to cryptocurrency and initial coin offering (ICO). many people who turned out to use it to seek personal gain even lead to the action of deceit.

[Betwrong]

Yeah, I heard about that, but they can not prevent us from posting news about cryptocurrency, they can just forbid a paid advertisement on their site

The news is outdated, but nowadays facebook is still banned from promoting Crypto, which is a pretty big deal for the Crypto market, partly because there are so many fraudulent ICO projects that have cheated users on facebook, because So new facebook decided to ban advertising Crypto.

Idk how the ban works for others but I keep getting those ads on Facebook. For example I took this screenshot a minute ago:



I'm not saying that Ubex is a fraudulent ICO project, probably it's not, because it's a Swiss project with good reviews and 4.5 ratings on icobench and icotokennews, but shouldn't the ban be applied to every ICO project indiscriminately?

[wuvdoll]

Yeah, I heard about that, but they can not prevent us from posting news about cryptocurrency, they can just forbid a paid advertisement on their site

Not to panic dudes. This news bit has now been overtaken by events. Haven't you guys read recently that Facebook is embarking on its own coin, the Facecoin? Surprising how these money bags quickly change in their positions on things. It's in the news but I can't lay my hands right now on that link where I read it last week. But just Google it anyway. It's in the public domain.

Even when the news was thrown out to the public before being overtaken by recent events of which you mentioned this was never a problem, but a lot of inexperienced and new investors who always like panicking took it the wrong way and most of them never even read the content of the news and why that decision was made.

Scammers kept using the ad space for their craziness and they took it on themselves to help clean that up and now, if you are an ICO that wants to advertise, you must be ready to show your legal documents before doing so and that is a good way to go.