Facebook removes all ads related to cryptoLooks and binary options

Facebook announced a boycott of the krypto industry, saying it stopped all ads related to it.

The Social Media giant announced on Tuesday its latest update of advertising rules, which will ban the advertising of ICO, related campaigns and everything that has to do with the crypto market. In addition, Facebook has put restrictions on controversial financial instruments like binary options.

The ban also reflects the official sentiment among investors as this move comes at a time when ICO fraud complaints are rising exponentially. Facebook's actions were also in line with the recent efforts of US authorities to combat widespread fraud associated with the emergence of new cryptobultures.

Although the ban has become an online reprimand, according to Facebook, its effect will be minimal for the crypto market.

Facebook said it encouraged the community to report content that violates the rules, as it may not capture any ad that has to be removed under this new policy.

"We want people to continue to learn about new products and services around the world through Facebook advertisements, but without fear of fraud." "I think there are many companies that advertise binary options, ICOs and cryptoLooks that do not work in good faith." - said Rob Leathern, Facebook product manager.

Source: Finance Magnates

Jr Trader Petar Milanov

Finance Magnates: Facebook Removes ICOs, Bitcoin Advertising from Its Network ‎

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