Following news that it was making changes to its newsfeed algorithms to prioritise content from friends and family over promoted posts, Facebook recently announced that it was banning all ads trading from its platforms relating to cryptocurrencies, including bitcoin, initial coin offerings (ICOs) and binary options. According to Rob Leathern, product management director at Facebook, this ban is not intended to reflect the company’s stance on cryptocurrencies, but rather to remove the possibility of scams. “There are many companies advertising binary options, ICOs and cryptocurrencies that are not at present operating in good faith,” he says. The social media company concedes that the 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.” The company’s announcement says this policy is part of an ongoing effort to impro...
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