Facebook bans bitcoins, ICOs, other cryptocurrency and deceptive financials ads which leads users to such offers who ends up being a fraud.
They have 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. Facebook has also asked its community for the support to report such content or ads which seems to them a fraud and which has slipped through the gaps in the policy.
Facebook has also shared some examples of such frauds.
some restriction on such ads are also imposed by the Facebook like:
- Ads which include money should target 18+ users.
- They will require written permission to promote ads which include real money in their offerings such as gambling or gaming service.
But they have also said that they will review this policy on a regular basis. And they hope this policy will help their user who falls in such frauds.