Facebook Bans Ads for Bitcoin and Other Cryptocurrencies
The social network said Tuesday that it would ban all ads for Bitcoin and other cryptocurrencies, in order to stop promotions
that it sees as “frequently associated with misleading or deceptive promotional practices.”
Among those who will be affected is James Altucher, a self-described “crypto genius” whose viral ads have
become a talking point in how the cryptocurrency boom has led to scams and wild price fluctuations.
The Securities and Exchange Commission said Tuesday
that it had halted what may have been a fraudulent initial coin offering that asked people to fund what was supposed to be the world’s first “decentralized bank.”
Tell us what you think
The company has been trying to clamp down on misinformation and false news after admitting last year
that Russian agents had used it to spread divisive and polarizing messages.