Social Media Giant Facebook Bans Bitcoin (available on Coinbase) Ads and All Others Related to Cryptocurrency

In what comes as a somewhat unsurprising move, social media giant Facebook has now banned all ads that promote cryptocurrencies — including Bitcoin (available on Coinbase) and ICOs — to protect its users from deceptive financial products and services.

Source: Facebook

As a result of Facebook’s new policy, we won’t be able to see ads featuring people like “crypto genius” James Altucher, who has been featured in the media quite prominently because of his endorsement of the digital currency.

Recently, Facebook has been a target of heavy criticism for hosting dubious ads that look to promote cryptocurrency. Some of these ads could potentially be associated with scams that are seemingly ubiquitous all over the internet right now. Many have pointed out that these ads use “fake information” to trick investors into putting money into “initial coin offerings”.