Facebook bans ads for cryptocurrencies

[laracastvue]

Yes, so far there is a major disadvantage to electronic money, now the number of facebook users is quite high. So if electronic money is banned on it then it is a disadvantage, electronic money difficult to access to investors.

Facebook did not want to become the source of cryptocurrency advertisement because some of the ico's are just scam and that is the reason why other social media's are also banning cryptocurrency ads.

[SaraMartin1212]

The reason Facebook denied cryptocurrencies because the user could anonymously transact. And that can cause Facebook to get very tangled about the legal.

[Aiiimm]

Facebook ads ban is one of the reason why bitcoin value is going down is because of the people getting bad news about bitcoin but i think facebook removes ads ban because there are still ads of crytocurrency facebool has a huge effect in crypto world spreading news many people around the globe is using facebook and one of the best to promote any cryptos.

[meerkatoken]

On the 26th of June, Facebook reversed its cryptocurrency ad ban. The decision came with a few caveats, however. The company said it will allow ads and related content from “pre-approved advisers,” but will still not allow ads promoting binary options and initial coin offerings. 

[Bonsaiav]

If judging from the positive side, I think what is done by the Facebook team is good and it isn't wrong, not solely to destroy the cryptocurrency, but want to fix what has been soiling his platform and at the same time troubling the general public in particular.

[Magic Sarap]

Yes, so far there is a major disadvantage to electronic money, now the number of facebook users is quite high. So if electronic money is banned on it then it is a disadvantage, electronic money difficult to access to investors.

Facebook did not want to become the source of cryptocurrency advertisement because some of the ico's are just scam and that is the reason why other social media's are also banning cryptocurrency ads.

Facebook is the most famous and widely used social media app in the world, banning ads related to cryptocurrency isnot a good idea for them. They will lose big amout of money if theyd do that. Because today crypto currency is very famous and facebook is including in bitcoin forum, maybe just think again facebook

[bongnor531]

Does anyone maybe aware of why a crypto related page still cannot be advertised? It is just a researcher page sharing some articles and analyzes. I thought that ban is demolished now so that is strange.

[shawn995]

Huge players fear the presence of new companies which are their potential rivals. In the event that you think back ever, no significant player has been on top for quite a while. Today, publicizing is consumed by huge players. They are the main ones who approach all portions of the market. What's more, they are not going to give it away. They are not moronic and comprehend that new businesses are dangers to them. Furthermore, ICOs are new companies with an immense potential.

[katrimans]

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

That’s an old news and they are already lifted the ban on cryptocurrencies, people can now advertise their crypto currency related ads or whatever on Facebook now. And by the way it wasn’t only cryptocurrency that was banned, they banned every similar things as of then and that includes binary trades and I think forex, not really sure about that, but I’m sure of binary trades. But they have already lifted the ban and I believe they have also set new rules.

[patarfweefwee]

I won't be surprised if very soon facebook will setup their own blockchains or better yet accept crypto currencies ij their transactions. Now, I'm hearing of buzz that Facebook may start accepting crypto currt. Besides, Facebook is a private entity and they could very much do whatever the heck they want woth their website. Because frankly, we agreed to it the moment we hit accept on the terms and agreement.

[Looden]

In the middle of the december, facebook and google will allow to publish crypto ads.

[taliwang]

in my opinion this is just a conspiracy, which makes the price of cryptocurrency fall because there will definitely be a lot of people who panic and eventually sell their assets at very cheap prices.

[MelissaPhillips733]

For me, IT is a good thing because they are really annoying to me. You can see that most of the cryptocurrency ads are about ICOs. ICOs somehow is not good in the crypto. Too many advertisements on Facebook can make other people misunderstand of what the cryptocurrency.

[Tubig]

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.

Facebook have already allowed some crypto to advertise. And I think Facebook (company) evaluates deeply the crypto that deserves to be advertised. And the result will be great because SNS's have a lot of population, it will make crypto more popular. Lot of market will notice cryptocurrency.

[drm]

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.

Facebook have already allowed some crypto to advertise. And I think Facebook (company) evaluates deeply the crypto that deserves to be advertised. And the result will be great because SNS's have a lot of population, it will make crypto more popular. Lot of market will notice cryptocurrency.

Honestly I hate facebook but I like it better this way, I hate scam coins even more.

[yusupjatigumilar]

maybe not all crypto ads will be banned by Facebook, maybe only ads that are considered potentially fraudulent will be blocked by Facebook, the proof on my home page still appears adverts that are folded investment in crypto

[ylnar123]

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

Facebook does not want to be blamed on the misfortune of ICO investors. So in order to avoid these, they make precautions to these and banning crypto ads is the best options.

[Beabtc11]

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.

Definitely Yes I agree with you. Not all cryptocurrency ads are ban in the Facebook.  They only ban this to protect scammers. Facebook has banned some advertising for cryptocurrencies because they are “frequently associated with misleading or deceptive promotional practices”. Facebook management protects only their page from scammers and wrong information that is advertised at their page. But they don't totally ban cryptocurrencies. They support it the program.

[Starving_Marvin]

This is not relevant news because we all know that Facebook has already changed his mind about cryptocurrency advertising, and they have reverted that ban, but unfortunately not completely.

[newcollegestar]

In the middle of the december, facebook and google will allow to publish crypto ads.

Since there is a big ad revenue for Facebook to ignore, Facebook has announced that they will reverse its ad blocking policy but it will still not let the ads promoting the purchase of binary options plus initial coin offers. So yes they will allow it again but with certain restrictions which will not allow the scammers to look people by luring them to invest in coins with zero potential and not future profitability.