The company’s product management director, Rob Leathern, wrote in January blog post that Facebook created a new policy that bans ads that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.“
“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.”
A lot of users of the Facebook have likely encountered with announcements of ICO, including those promising benefits for early participation and high investment returns in the near future. Other advertisements presented on the platform give advice on investing in the crypto market.
Leathern claimed that this policy spreads to other platforms under Facebook’s purview, including fashionable Instagram application.He added that this policy could be changed in the future, although he did not offer any deadlines on this front.