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Facebook Bans Ads For Cryptocurrencies and Financial Products and Services

     
8:52 am on Jan 31, 2018 (gmt 0)

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Facebook has decided to ban all ads for financial services and products that are "frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency."

It seems Facebook is concerned over the potential for scams in the decision to making this move, but also goes on the say that many businesses are operating in good faith, and although they will be affected by the broad-line approach, it's working on finding better ways to detect misleading ads.
This policy is 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. Facebook Bans Ads For Cryptocurrencies and Financial Products and Services [facebook.com]
9:05 am on Jan 31, 2018 (gmt 0)

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I'm in agreement. The liability of scams coming back on them is not a risk worth taking.

I block all ads relating to cryptocurrency on my web properties as well.
9:13 am on Jan 31, 2018 (gmt 0)

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Its a quite vague policy though:

Ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency.


Such as? How frequently? Does it extend to tip sheets, illiquid shares, spread betting, FX trading, other types of options ....?
1:32 am on Feb 1, 2018 (gmt 0)

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Tha banks ran by the elite don't want any competition, this is the only reason. And yes, all banks are fine and will NEVER promote financial products and never cheat you, never ever LOL
5:08 am on Feb 1, 2018 (gmt 0)

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:: vague mental association with restrictions on advertising targeted at children ::
9:13 am on Feb 1, 2018 (gmt 0)

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I'm not anti-cryptocurrency in theory. I'm just against the unaccountability of the swarm of these ads & the possibile liability coming back on publishers.
10:26 pm on Feb 1, 2018 (gmt 0)

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How does Facebook know that a cryptocurrency ad is deceptive?
11:49 am on Feb 3, 2018 (gmt 0)

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It looks as though they are banning cryptocurrency and binary option ads altogether and anything else " frequently associated with misleading or deceptive promotional practices".

So the ad does not actually need to be deceptive.

What I want to know how they decide what is "frequently associated with misleading or deceptive promotional practices".