Posted by Vidushi Vij | Last Updated: 26-Feb-18
Bitcoin is all over the internet these days for some good and some bad reasons but Facebook is trying to make its platform a better place by doing few changes in the ad policies. Facebook ad policies are the guidelines on which the ads are either accepted or rejected. The company has recently updated its advertising policy according to which it will ban all advertisements for binary options and initial coin offerings, cryptocurrency including Bitcoin, Litecoin, and Ethereum. These ads will be banned on the main page as well as places where Facebook posts ads which include Instagram, its ad network, and audience network.
Cryptocurrency is a huge market and some people have taken advantage of it in a wrong way. It had led to scams due to which people have lost a large amount of money.
Product management director Rob Leathern has told that Facebook will not allow ads that promote financial products as they could be misleading. He further added, the decision of banning ads is not permanent and it can be changed in future once it gets better in detecting and removing fraud ads. The company will revisit the policy again as its technology improve. So, we all can hope for the best.
This new policy might be the loss for the legal and legitimate businesses. The Crypto genius, James Altucher whose ads which used to appear everywhere on the internet won't be able to advertise anymore because of the recent FB ads update. The company wants people to discover and learn about such currency first and doesn't want you to get involved in any scam. Facebook even gives you the right to reporting fraud content that violates its policy. Still, if you want to post any such ad it will require written permission but obviously with some guidelines like the targeted audience should be over 18 years and above.