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.
The 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.
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.