Facebook announced it is banning all advertisements involving Bitcoin and all other cryptocurrencies, that also includes all ICO related advertisements. On a company blog post, from its Product Management Director, Rob Leathern, Facebook wants “people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception. That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith.”
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Although you might argue this could be good news for Bitcoin, since Bitcoin does not need advertisements, they already get plenty of headlines from all the mainstream media throughout the world. But news like this cannot be good for the crypto world in general. This could cause capital to flow out of the crypto ecosystem and drag all the coins down with it.
Misleading ads have no place on Facebook: just launched a new policy to prohibit ads promoting financial products & services frequently associated with misleading/deceptive promotional practices, (e.g. binary options, initial coin offerings, or cryptocurrency) .. 1/2
— Rob Leathern ?⚙️ (@robleathern) January 30, 2018
One bigger question we should be watching out for…Is Facebook truly looking after their users or are they simply positioning themselves to launch their own “Facecoin”? Sorry…make that …TheFaceCoin (TFC).