Facebook banned Crypto Ads
I guess since the Ad manipulation scandal of the presidential elections in the USA, Facebook has adopted a bit more meticulous policy about advertisement content in their platform, so it is the time for the paranoia to hit our market and the practices of it, another crypto ban.
Facebook has annouced that there will be no more advertisement in their site about "cryptocurrencies" nor "Initial Coin Offerings". Actually the statement outlines that the new policy goes against misleading financial products such as binary options, ICOs and cryptocoins. So we are in the "scam" bag once again. As so it goes to Instagram too, which was one of the best marketing platform for ICOs in 2017.
This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices, and enforcement will begin to ramp up across our platforms including Facebook, Audience Network and Instagram. We will revisit this policy and how we enforce it as our signals improve.
Now we will have to reinvent the marketing channels for the crypto world, in the hope of decentralizing the monopoly that sites like CoinMarketCap could have. Without Instagram and Facebook as a channel to get in touch with mainstream users and investors we go back years in the progress of crypto branding and communications for the masses. Time to innovate and find different ways to reach the people.
Good luck.
Cheers!
In fairness, I see the ban on ICO advertisements as protection for people who are new to crypto. I see most reliable/well minded projects having no need to advertising, rather, raising funds organically.
There is always a need to advertised, you would have to be 24/7 reading about new projects and still wont be really informed about everything that is happening. I mean, if you think about it, there's still a monopoly on the channels we get reliable new about crypto from, so less channels to advertise make things a bit more difficult for everyone in the business.
The market will move to different venues. For Facebook, it is a choice between a rock and a hard place. They need ads revenue but do not want to lend the platform for shady ads.
In time, I think the distinction between Wild West projects and legit projects will become more clear. That should help regular advertisement opportunities.
Well said @wekkel. I think the role of the exchanges, taking as example Binance, will change the way we see ICOs. The more official auditors and channels become authorities to clear the path.
Good riddance.
@albertogm vote back please.
One step forward, two steps backwards..
Ohhh very sad, facebook banned crypto ads.
lol i saw the news too. the days of ico regulations are here
Thank you Facebook for the free advertising.
good work buddy
Awful choice by Facebook @albertogm. If I'm into crypto or bitcoin, I most likely want to see ads about it. Who does Facebook think they are? I'm fairly certain they've also done this with medical marijuana, guns, and other sensitive categories. Apparently a Bitcoin company can't advertise on there, but they don't have an issue with Russia placing ads designed to stroke hatred & division within our country!
...or perhaps Facebook is getting ready to launch their own coin...?