Bitcoin Watch – Facebook reverses ban on cryptocurrency ads

In a move which could have a positive impact on the value of cryptocurrencies, Facebook has announced it will lift the ban on ads that promote cryptocurrencies and related content. In a blog post on the social media giant’s website, Facebook product management director Rob Leathern said: “In January, we announced a new policy to “prohibit ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.” At the time we also made clear that “this policy is intentionally broad while we work to better detect deceptive and misleading advertising practices… We will revisit this policy and how we enforce it as our signals improve. In the last few months, we’ve looked at the best way to refine this policy — to allow some ads while also working to ensure that they’re safe. So starting June 26, we’ll be updating our policy to allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings.”

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