Facebook Bans Ads For Bitcoin, Others
Social media giant Facebook says it is banning all advertisements related to cryptocurrencies in an effort to fight scams.
Facebook said it is barring ads for “financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.”
Initial coin offerings or ICOs are a way for companies to raise funds by selling investors cryptographic assets.
This week, for instance, the US Securities and Exchange Commission shut down an initial coin offering by a Texas company called AriseBank.
AriseBank was accused of relying on celebrity endorsers such as boxer Evander Holyfield and social media to cheat investors out of $600 million of its goal of $1 billion for a currency it called “AriseCoin.”
In a blog post announcing the news, Facebook product management director Rob Leathern hinted that Facebook may modify the new policy at some point to allow bona fide crypto-related businesses to advertise again.
“We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception,” Leathern wrote. “That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith.”
“This 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. We will revisit this policy and how we enforce it as our signals improve,” he added.
Tanker explodes in Festac town; burns about 20 vehicles
Fuel tanker fell and caught fire this afternoon at Festac town link bridge around Amuwo Odofin area of Lagos State. as at the time of this report many Life’s where lost including about 20 vehicles and 4 motorcycles where also
Omokri Reacts To Charly Boy’s Comment On Pastors
Former presidential media aide Reno Omokri has asked Charly Boy to demand good leadership from elected public officials rather than criticising pastors for buying jets. Charly Boy had called pastors with private jets thieves. In a series of tweets, the
Olamide, Small Doctor, Lil Kesh, Others Set To Light Up Lagos Carnival
Top-rated artistes like Olamide, Small Doctor, Lil Kesh, 9ce and Ycee are some of the confirmed A-list artistes billed to perform at The Lagos Street Carnival scheduled to hold on Sunday, 3rd December, 2017. The carnival, which will kick-start the
No Comments
