Facebook Bans Cryptocurrency and ICO Ads

The company created a new policy to improve the integrity and security of ads and to make it harder for scammers to profit from a presence on Facebook
31 January 2018   3421

Facebook created a new policy that prohibits all advertisements for cryptocurrency and ICOs as part of an ongoing effort to improve the integrity and security of ads and to make it harder for scammers to profit from a presence on Facebook. The policy specifically prohibits ads that promote those types of products and services that are frequently associated with misleading or deceptive practices, the company said.

New Ads PolicyThe new policy of Facebook

We want 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. This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices, and enforcement will begin to ramp up.

 

Rob Leathern

Product management director, Facebook

Leathern also said that the decision isn’t permanent and that Facebook will revisit the rules when it’s gotten better at detecting and removing bad ads.

The company will be working to better detect deceptive and misleading ads that pertain to cryptocurrencies, ICOs and binary options. Meantime, Facebook is encouraging people to report content that violates this policy.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   110

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.