Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Souri on February 02, 2018, 06:11:58 PM
-
Facebook has just announced that it just banned advertisements about new and upcoming ICOs on its platform. There arguments revolve around misleading of people and possible scams.
Sources commenting in that:
https://techcrunch.com/2018/01/30/facebook-is-banning-cryptocurrency-and-ico-ads/
https://motherboard.vice.com/en_us/article/qvw77m/facebook-just-banned-all-cryptocurrency-advertising-bitcoin-ico
-
The issue of scam and fake ICOs has been on the increase of late. The ban is not permanent though from the news I read and it will only come to bring to light all fake and real ICOs after Facebook comes out with the plan to detect fake ICOs.
Facebook is banning all advertisements for cryptocurrency, including Bitcoin and initial coin offerings, as part of an “intentionally broad” policy against deceptive marketers. Product management director Rob Leathern explained the decision in a blog post, saying Facebook will no longer accept ads that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices.” He says the decision isn’t permanent, though, and that Facebook will revisit the rules when it’s gotten better at detecting and removing bad ads
You can read more via https://www.theverge.com/2018/1/30/16951670/facebook-cryptocurrency-bitcoin-ico-deceptive-marketing-ban (https://www.theverge.com/2018/1/30/16951670/facebook-cryptocurrency-bitcoin-ico-deceptive-marketing-ban)
-
Yeah I fully agree there have been so many scam, ponzi or semi scam ICO advertisements or straigt up bitcoin ponzis (Bitconnect, USI-Tech, ...) going around confussing crypto beginners and given the whole scene a bad name. And yes of course most of those scams were advertised through facebook, so even though this temporary ban hurts a few legit companies and coins maybe it is not the worst that could happen to the crypto scene as a whole.
-
Hopefully With this incident Many fake ICOs can disappear