Facebook bans ads for cryptocurrencies

shulc7

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Quote from: Samohunk on August 15, 2018, 11:58:34 AM

I thought, 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. Just keep your faith on these platform and keep up the good work.

Despite all of these bans they decided to deal with their own cryptocurrency. I do not think that the reason for this prohibit was the wish to save people from the scammed ICOs.

VaryTime

newbie

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To what I know, facebook now allow ads for cryptocurrencies and it will soon support it the future

warriorcryptobar

jr. member

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Great informational update. The actual irony is that the topic can be misleading. Following suit, google did the exact same thing, regulating a portion of crypto on their brand, and then rolling back those rules. FB is basically saying, we ban you, then we let you back in. Just be minding p and q.

ThunderCatSteve

hero member

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Facebook can't ban all of them because it's not easy to identify.

Bitcoin and other cryptocurrencies are being "advertised" in media and especially in the recent weeks where the cryptocurrencies are very very trending everywhere.

In some local TV shows there were many discussion about the crypto and what really is a bitcoin, how is it used, is it real, how to get it and many many questions which I really enjoyed watching them, even though I knew these things years ago it is interesting seeing them in the TV, even though they bring also mining Rigs to explain to the people that these "generate" money!

spongegar

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Facebook has the prerogative of choosing who they want to advertise. I mean Facebook no matter how public it is, is in fact a private domain and so long as it doesn't break the laws they can do whatever they want. But then again, i doubt that they could ban it completely. I mean people could themselves promote crypto currencies in their walls.

pokeronlinestatus

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Quote from: MelissaPhillips733 on August 13, 2018, 05:52:25 AM

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.

I am also not an enthusiast of ICOs. I don’t find them useful. Especially nowadays, we keep on learning about new projects and almost all of them are useless. There is a chance of being scammed too. Honestly, it is not like Mark is against cryptocurrencies. He himself is a tech guy. Few weeks ago, there was a news about him releasing his own crypto currency.

TYPEcoin

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Just yesterday I was scrolling my Facebook feed and I have seen that cryptocurrency advertising so it basically means that Facebook is not so strict that they want us to think that they are.

Samohunk

newbie

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I thought, 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. Just keep your faith on these platform and keep up the good work.

newcollegestar

jr. member

Activity: 124

Merit: 2

Quote from: Looden on August 13, 2018, 04:54:18 AM

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.

Starving_Marvin

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Open and Transparent Science Powered By Blockchain

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.

Beabtc11

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Quote from: arpon11 on March 12, 2018, 04:20:11 AM

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.

ylnar123

member

Activity: 350

Merit: 10

Quote from: pxo.011 on March 12, 2018, 03:44:54 AM

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.

yusupjatigumilar

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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

drm

legendary

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Quote from: Tubig on August 13, 2018, 08:03:02 AM

Quote from: nl247 on March 12, 2018, 04:37:22 AM

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.

Tubig

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Activity: 212

Merit: 100

Quote from: nl247 on March 12, 2018, 04:37:22 AM

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.

MelissaPhillips733

newbie

Activity: 27

Merit: 0

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.

taliwang

sr. member

Activity: 658

Merit: 250

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.

Looden

member

Activity: 168

Merit: 24

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

patarfweefwee

member

Activity: 420

Merit: 14

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.

katrimans

hero member

Activity: 882

Merit: 500

Quote from: pxo.011 on March 12, 2018, 03:44:54 AM

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.

Topic: Facebook bans ads for cryptocurrencies (Read 1450 times)