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Written By Edwin Stark
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Updated on September 19th, 2023
Why Facebook Is Banning All Ads Promoting Cryptocurrencies Including Bitcoins
Yes, you heard it right Facebook is banning all ads that promote Cryptocurrencies even those including Bitcoins.
Now the question is, why Facebook is banning all ads?
Just a few days ago, Facebook announced that it would be keeping track of all the advertisements that advertisers use to mislead its users. Specifically, most of these ads are for financial products and services that employ deceptive and misleading promotional practices.
Furthermore, after rigorous research, it was discovered that many advertisers are even using cryptocurrencies like Bitcoins for deceptive promotional activities.
So according to a, from now on no advertiser, even those with legal and legitimate businesses will be able to promote things like Bitcoins, ICOS, binary options, and initial coin offerings.
This means even ‘James Altucher who is known as the cryptocurrency genius won’t be able to advertise on Facebook.
Advertisements that violate Facebook’s core policy will be banned on Facebook and even on the Facebook core app. In addition, these ads will also get banned on third-party apps, audience networks, Instagram, and other ad networks.
Rob Leathern who is one of the Facebook Ad Tech Directors wrote: “We are launching these new algorithms to better detect misleading advertising practices. We will even revisit the policy if something needs to be changed”
Many investors and entrepreneurs are arguing that this move will unfairly punish legitimate cryptocurrency companies and their related crypto products.
What do you think about this policy?
About The Author:
Edwin Stark is a Technical Content Writer who specializes in writing about databases, e-mail recovery, and e-mail migration solutions. He loves researching and developing content that helps database administrators, organizations and novices to fix multiple problems.
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