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Ranging Reactions to Facebook Cryptocurrency Ad Ban

By Gareth Jenkinson

Facebook users will no longer be bombarded by cryptocurrency, initial coin offering and Bitcoin adverts on the social media platform.

The company has instituted an all-out ban on cryptocurrency, ICO or Bitcoin adverts - 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 effectively rules out any advertising of cryptocurrencies or related products on Facebook.

Adverts failing to comply will be banned from Facebook, and its partner platform Instagram as well as its advertising platform Audience Network.

Facebook’s advertising tech director Rob Leathern said the ban was ‘intentionally broad’ in an effort to weed out ‘deceptive and misleading’ advertising.

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