Facebook whacks cryptocurrency and ICO ads with banhammer

Facebook is cracking down on

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advertisements of financial products that are often used to scam users, and that means initial coin offerings (ICOs), cryptocurrencies, and binary options are in the social network's crosshairs.

"We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception," Facebook product management director Rob Leathern said in a blog post.

Leathern said there is a high number of companies in the space not operating in good faith, and that Facebook is introducing the ban to make it harder for scams to succeed on its platform.

"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," Leathern said. "We will revisit this policy and how we enforce it as our signals improve."

http://www.zdnet.com/article/facebook-whacks-cryptocurrency-and-ico-ads-with-banhammer/