• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
Facebook Is Renouncing Its Ban on Cryptocurrency Ads
Advertisement

Facebook Banning ICO Ads a Good Thing for Crypto

Martin Young by Martin Young
5 years ago
in News, News teaser
0
Advertisement

Anyone that has spent any time on ‘the social network’ will be well aware that 80% of what you see there is digital dross. Facebook is renowned for disseminating clickbait, scams, fraudulent adverts, and malware. Finally, the company has made some moves to clean up its act where ICOs and cryptocurrency advertising is concerned.


Both Facebook and Google have recently been caught getting paid for adverts to fraudulent websites. Just last week it was discovered that Google’s DoubleClick ad platform was propagating mining malware via YouTube. The ad revenue buck is the bottom line for these two monopolies it seems.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

Curbing Crypto Ads

This week it was reported on CNBC that Facebook has announced that it would be banning all ads for ICOs and crypto in what it deems “financial products and services frequently associated with misleading or deceptive promotional practices.”

The social media giant has yet to take action in banning con artists that frequently use the platform to ply their wares and deceive others, but this is a first step. According to the report, ads that violate the company’s new policy will be banned on Facebook’s core app. Additionally, they will be banned in other places where Facebook sells ads, which includes Instagram and its ad network, Audience Network.

Facebook’s ad tech director Rob Leathern told media:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices. We will revisit this policy and how we enforce it as our signals improve.

A sign of the times: one move by FB might actually have done more to protect consumers than any number of regulator warnings and enforcement actions https://t.co/VVTO6SEUBn

— Reuben Bramanathan (@bramanathan) January 30, 2018

Stabilizing the Ecosystem

The move is a good one for cryptocurrency and the industry in general. Facebook has been a hotbed of scams and duplicitous activity which seems to have run unchecked for months leading many into losing their cash. Cryptocurrency startup advisor, Kyle Forkey, told Inverse:

It will be beneficial to the average investor and indirectly beneficial to crypto as a whole. The more we flush out these scammers, the better the ecosystem is going to handle it, so I’m all for it.

He went on to explain that legitimate companies will not be affected by the ad ban:

A majority of the money raised by legitimate ICOs is through partnerships and relationships. I think the only companies that are going to take a hit from losing Facebook advertising are going to be the people not actually putting themselves out there.

Ads, however, are one thing but anonymous Facebook members posting blatant scams to crypto groups is another. Only when the company takes action against them will the platform be a safer place to discuss the industry and investments. Until then tread with caution and always do your own research.

Do you use Facebook to research cryptos? What do you think of the crypto and ICO ad ban? Let us know in the comments below.


Images courtesy of Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Martin Young

Martin Young

Related Posts

Korean Financial Services Commission Chair Announces Security Tokens

Korean Financial Services Commission Chair Announces Security Tokens

2 weeks ago
DCG

Tron Founder Justin Sun Ready To Invest $1 Billion On DCG Assets

2 weeks ago
ETF

Samsung Unveils Bitcoin Futures ETF Amid Escalating Crypto Interest

3 weeks ago
Hong Kong Flag

Hong Kong to Limit Retail Investors’ Crypto Trading to Only ‘Highly Liquid’ Assets

3 weeks ago
Mango

CFTC Sues Trader Over Alleged Mango Markets Scam

3 weeks ago
FTX Exchange

Former FTX US President Harrison To Share Information About The Exchange

3 weeks ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Binance Coin (BNB) Trading Volume Pumps By $7 Million While...

    3 hours ago
  • Polkadot (DOT) sees 5% Growth, why Cardano (ADA) and...

    4 hours ago
  • More than a trillion dollars moved in Litecoin (LTC)...

    4 hours ago
  • Moralis has revealed the integration of Web3 API with Aptos...

    5 hours ago
  • Is Aptos (APT), Solana (SOL), or Snowfall Protocol (SNW)...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.