Social networking giant Facebook bans cryptocurrency ads on its platforms
New York, Jan 31 (IBNS):In a major move, popular social networking site Facebook Wednesday announced it has decided to block any advertising promoting cryptocurrency products and services.
The company even urged users to report any ads which the company's security measures miss.
In a statement, the social networking site 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."
"We’ve created a new policy that prohibits 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," it said.
" We also understand that we may not catch every ad that should be removed under this new policy, and encourage our community to report content that violates our Advertising Policies. People can report any ad on Facebook by clicking on the upper right-hand corner of the ad," it said.
The company said the move has been made as part of an ongoing effort to improve the integrity and security of our ads, and to make it harder for scammers to profit from a presence on Facebook.
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