Facebook prohibits advertisements related to cryptomonnaies

Facebook will ban all advertising related to cryptomonnaies (Photo LOIC VENANCE. AFP)

The american group Facebook (NASDAQ:FB) announced that it would prohibit any advertising related to cryptomonnaies in order to counter the attempts of scam.

The social network explained Tuesday on its website that it intended to prohibit advertisements for “financial services and products that are frequently associated with practices, promotional, misleading and deceptive”.

Among the practices cited by the group include a type of a particular transaction, the “binary options”, or the raising of funds in cryptomonnaies, said Initial corner offerings (ICO), who are to create its own virtual currency and sell it to investors paying with other cryptomonnaies or with currency traditional.

Fraud is common in the world of cryptomonnaies, of which bitcoin is the most well-known. The securities and exchange Commission u.s. (SEC) has halted this week a ICO launched by a company in Texas named AriseBank.

According to the SEC, which filed a complaint against the company in texas, AriseBank “has used social networks, the support of a celebrity (the boxer Evander Holyfield, ED), and other diffusion tactics to raise, according to his words, 600 million dollars, on a goal of $ 1 billion, in just two months” but the whole operation was “a fraud, pure and simple.”

In his message announcing the decision of Facebook, the director of product management Rob Leathern suggests that the group could modify its new policy in the future to enable serious businesses related to cryptomonnaies advertising.

“We want people to continue to discover and learn about new products and services through advertising of Facebook without the fear of scams or deceptions,” he wrote.

“This policy applies voluntarily in a broad way, while we are working to better identify practices deceptive and misleading”, and will be implemented on all platforms of the group (Facebook, Audience Network, Instagram), ” he says.

“We will review this policy and the manner in which we apply as measures that our indicators are improving”, he adds.

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