Facebook bans ads for cryptocurrencies

[pellor mas]

Fraud anxiety on Facebook does need to be wary of. Ads on Facebook can be used to generate 'buzz' around this new scheme and be very effective especially when paired with celebrity endorsements. Retired boxer Floyd Mayweather last year was criticized for promoting cryptocurrency which later became his company's target of fraud allegations.

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[fabrizoc]

What infect have this have on cryptocurrencies as I see that since March icos are still being prompted on facebook.  Stoping cryptocurrencies ads or banning it will not change anything and it will be like taking us backwards in the development of internet technology.

It was never even meant to take us backward but forward. The move Facebook, Google made so far has helped to even bring about a highly sane environment. This made it easier in the first place before this move was made for a lot of phishing attacks, scam ICOs and name every other atrocities committed by scammers and hackers but since this came into play, we all know how some of these things have reduced to almost none, and instead of throwing punches we should be applauding them.

[ShitTL]

Many suspect that fb banned advertising for electronic money because they are launching a new coin. According to a Facebook statement, the new policy prohibiting ads related to coding money or the ICO on the network. These two billion people are "often associated with unclear promoters"

[suraza21]

n January 2018, one of Facebook's rivals in the messaging service, Telegram, recently reported on their own ICO. Telegram is now a direct competitor to WhatsApp, which is owned by Facebook and hopes that blockchain will have more applications.

[Onion lover 888]

Yeah I read this, strange they have all kinds of silly adverts, but now they discontinue crypto ones. Didnt I remember reading somewhere that Facebook was going to launch its own crypto? Looks like they are banning the ads to benefit their own project. I could be wrong, but it smells fishy to me. In the meantime ICO's really do need to clean themselves up and get with the programme.

[ValerieBTC]

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

No one even forbade paid advertisement. Advert is still running on Facebook, Google and the rest but at least now it is a verified one most especially when it comes to cryptocurrency which I believe is a great move. Some in their imagination thinks it is an attack on cryptocurrency without even getting to understand the main reason why that action was taken in the first place. I see reason why people panic easily since all the do is read the headline and start assuming things immediately.

[ganlianshifu1]

Facebook bans advertising for ico and cryptocurrency because they are studying blockchain technology.
The main purpose is to eliminate its own competition and promote its own cryptocurrency!

[Siren]

At first i believe that zuckingberg is really concern about our funds that he was just wanted to prevent scamming victimizing cryptonians,not until the main intention was revealed and it was Hes cryptocoins is what the objective of banning other ico,so he will the only one to advertise the coin he created in facebook he really zuckingberg right?

Thats why i really believes in the sense that no one has really a motive helping others but their self and for their own beneficial

[TheClownSong]

Facebook and others media social ban ICOs ads because many ICOs scam and i think they want to prevent that scam to their member. I am believe if government regulation about crypto issued, facebook will accepting crypto ads again

[Cacaparg]

Facebook has banned all advertising for cryptocurrencies because they are “frequently associated with misleading or deceptive promotional practices”.
“We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception,” said Rob Leathern, a product management director at the social network. “That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith.”
Specific examples of banned adverts offered by Facebook include “Click here to learn more about our no-risk cryptocurrency that enables instant payments to anyone in the world” and “Use your retirement funds to buy Bitcoin!”

[ceylan]

i also heard that Facebook have banned cryptocurrency adverts because so many are scams .. they saying  initial coin offering ads as they are ‘frequently associated with misleading or deceptive promotional practices..

[giarised]

What infect have this have on cryptocurrencies as I see that since March icos are still being prompted on facebook.  Stoping cryptocurrencies ads or banning it will not change anything and it will be like taking us backwards in the development of internet technology.

It was never even meant to take us backward but forward. The move Facebook, Google made so far has helped to even bring about a highly sane environment. This made it easier in the first place before this move was made for a lot of phishing attacks, scam ICOs and name every other atrocities committed by scammers and hackers but since this came into play, we all know how some of these things have reduced to almost none, and instead of throwing punches we should be applauding them.

Many people say that Facebook is going to launch their own cryptocurrency and that’s why they banned other cryptocurrency ads on their site. But it is not a problem because there are many other sources that promote bitcoin and Altcoin and people are putting their money in crypto. If Facebook launch their own crypto it will not affect big coins because many people do not invest in new ICOs.

[millionaireshs]

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

I think ban of crypto currency on face book is selective because why on my facebook account has Bitcoin advertisement, Actually Business is business if they want to earn profit through promotion of crypto why they don't get tax for the whole advertisement of crypto instead of banning it. that's what I suggest here.

[embargo]

Such a policy of Facebook. And probably in fact, one person - Mark Zuckerberg ... This is his subjective opinion, which he decided to implement in this way. It seems to me not advisable to prohibit advertising crypto-currencies - for this future, and when there is a ban - there will still be other options for advertising crypto, with Facebook or without Facebook.

[LuffyD.Monkey]

Many suspect that fb banned advertising for electronic money because they are launching a new coin. According to a Facebook statement, the new policy prohibiting ads related to coding money or the ICO on the network. These two billion people are "often associated with unclear promoters"

Yeah this is the main reason that they banned cryptocurrency ads on Facebook. I think their statement is false and will not affect crypto investors. I don’t have anything to do with Facebook. I will not rely on Facebook statements. If I want to invest in crypto I will search the market and look the trend of the people and step forward towards investment.

[Dancobit]

For Facebook the move is an attempt to maintain the integrity of its advertising platform which in the past 12 months has been criticized for allowing Russian propaganda and other content deemed inappropriate.

[neonilafade]

They ban crypto ads and are planning their own coin now. So you can see the whole picture now.

[entrepmind23]

For Facebook the move is an attempt to maintain the integrity of its advertising platform which in the past 12 months has been criticized for allowing Russian propaganda and other content deemed inappropriate.

They just don't want any issues again that may bring them down or the authorities would call out Zuckerberg again for investigation. Just like what twitter and google ads is doing because they don't want to cause any issues since cryptocurrencies is still a hot topic.

Recently though, I have seen some crypto related ads so I don't know if they lift the ban or they just weren't able to monitor the advertisement that it is related to cryptocurrency.

Such a policy of Facebook. And probably in fact, one person - Mark Zuckerberg ... This is his subjective opinion, which he decided to implement in this way. It seems to me not advisable to prohibit advertising crypto-currencies - for this future, and when there is a ban - there will still be other options for advertising crypto, with Facebook or without Facebook.

There are other options but due to this move, bounty hunters are more needed because the promotion of bounty hunters would only be the way to promote on those sites like facebook and twitter. Youtube didn't implement the restriction so many are still promoting their ICOs there as well as in the crypto related websites.

[arthotdog]

This happens for a sole purpose,for mark zuckerbergs benefits because he banned crypto not because he was concern about us all not become a victime of scamming instead he did this to promote hes own coin

Isnt it selfishness?when we all believe of hes good heart of concerning the ico investors not to gain more numbers of victim from scams

[owmivmen]

the best solution is the facebook should select the ico project group and verify the authenticity of the project. do not crypto get bad news and everyone will sell their assets due to fraudulent news.