Social network Facebook has announced a policy that prohibits ads that promote financial products & services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings & cryptocurrency.
Here’s what the announcement says:
FB said it wanted members to continue to discover & learn about new products & services through Facebook ads without fear of scams or deception. The decision to ban such ‘financial products’ ads was because there were many companies who were advertising binary options, ICOs & cryptocurrencies that were not currently operating in good faith.
This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices, and enforcement will begin to ramp up across our platforms including Facebook, Audience Network and Instagram. We will revisit this policy and how we enforce it as our signals improve.
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.
