Facebook users will no longer be bombarded by cryptocurrency, the initial offer of coins and Bitcoin ads on the social media platform.
The company has implemented a total ban on cryptocurrency, ICO or Bitcoin advertising – citing “financial products and services frequently associated with misleading or deceptive promotional practices”.
Unfortunately, legitimate financial service providers will also be painted with the same brush, which excludes any crypto-currency advertising or related products on Facebook.
Non-compliant ads will be banned on Facebook, on its Instagram partner platform and on its Audience Network advertising platform.
Facebook’s advertising director, Rob Leathern, said the ban was “intentionally broad” in an effort to eliminate “misleading and deceptive” advertising.