Facebook & Instagram: Advertising for crypto conventions & ICOs prohibited

The new Facebook and Instagram policy violates the publication of any advertisements for cryptocurrencies, ICOs, and other digital financial products that are "often associated with misleading or fraudulent practices." For many advertisers, this is a setback in view of the large market share and the intensive use of social networks.

Bad news for all companies who want to advertise their services or products on Facebook or Instagram. According to the company's previous guidelines, a new one was added yesterday, according to the blog entry. Since you want to avert any damage from its users, since yesterday, no videos and banners are allowed, which act on crypto currencies, ICOs or other digital financial products. In addition, the users of Instagram and Facebook are called to report even advertising that attracts them negative.

Although you want to continue to deliver advertising to the Facebook and Instagram users, as it says in the blog post. But not as far as digital financial products are concerned, because these are currently often offered "not in good faith". The social network operating company has narrowed the scope of content until it is better able to distinguish legitimate from misleading advertising. Until then, such ads are also prohibited in the company's own advertising network, the "Audience Network". Once it is possible to better distinguish the advertisements in terms of their seriousness, the locked-out business area should be narrowed down again. Whether ads for products from the crypto sector will be allowed again remains to be seen. Further details will not be published in yesterday's blog post by Rob Leatherr (Product Management Director).