New Facebook policy blocks deceptive financial ads; cryptocurrency
A new Facebook policy aims to shut out deceptive and misleading ads.
In a blog post, Product Management Director Rob Leathern divulged:
“Two of our core advertising principles outline our belief that ads should be safe, and that we build for people first. Misleading or deceptive ads have no place on Facebook.”
It is for this reason that Facebook has created a new policy prohibiting ads that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.”
I can’t help but laugh at the altruistic nature behind blocking ‘certain’ aspects of a deceptive industry like advertising. But anyways, it’s cool that Facebook is looking out for users who might fall prey to those ‘deceptacons’ in a given industry, especially one as explosive as cryptocurrency, where everyone wants a slice of the binary pie.
The De Gea of Social Media
Facebook wants their users to continue discovering and learning about new products and services without the fear of scams or deception.
The policy is intentionally far-reaching, as to better detect and thus weed out deceptive and misleading advertising practices, which will be implemented across Facebook’s other platforms including Audience Network and Instagram.
Though they are aware that they won’t weed out all the sketchy ads immediately, they encourage the community to get involved and report content that violates implemented advertising policies.
This can be done by right clicking on the upper right-hand corner of said ad, which most people are probably familiar with unless you’re still on the MySpace side of life.
The cryptocurrency market is already fickle, so it will be interesting to see how it will be affected by this new Facebook policy.