Facebook has revealed it’s new upcoming policy changes today, Rob Leathern the companies management director wrote in his Blog post that ‘advertisements promoting financial services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and Cryptocurrency’ will be targeted in this new policy.
Although on the face of it this seems like negativity towards the Cryptocurrency space, it is not. ICO’s are being advertised left, right and centre – many claiming huge returns and often backed by no actual product or service.
Then there are Lending platforms such as Bitconnect which were at one time advertised all over Facebook. It is in Facebook’s interest to protect its users from fraudulent and misleading advertising and although we could condemn Facebook in many aspects of how it functions, in this particular case I think this was necessary and responsible.