Facebook and Instagram opted to ban all crypto currency ads including bitcoin

Facebook has opted to ban all cryptocurrency ads promote initial coin offerings (ICOs), cryptocurrencies like Bitcoin and binary options trading from its platforms, including Instagram, Audience Network, and Messenger.

According to the new policy, all ads that promoting deceptive financial dealings and lucky coins will also be banned. In a recent statement, Facebook said that.”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,” said Rob Leathern, Product Management Director at Facebook. The enforcement will begin to ramp up across Facebook platforms.”We will revisit this policy and how we enforce it as our signals improve,” Leathern added.

By this advertisement policy, Facebook is looking forward to strengthening the trust level from the users and also asked all communities to report any kind of deceptive ads.

“People can report any ad on Facebook by clicking on the upper right-hand corner of the ad,” Facebook said.”Two of our core advertising principles outline our belief that ads should be safe, and that we build for people first. Misleading or deceptive ads have no place on Facebook,” the company added. The new addition to the company’s advertising policy reads as a biting indictment of the crazed cryptocurrency market which has been fuelled by intense speculation in recent months, and a large number of scams it has attracted. In the past, Facebook users had noted the proliferation of bizarre and tacky ads spruiking bitcoin and others cryptocurrencies.