Facebook is banning ads that contain or promote crytocurrencies, in a effort to prevent people from advertising "financial products and services frequently associated with misleading or deceptive promotional practices." Which means advertisers cannot promote cryptocurrencies, initial coin offerings.
Ads that violate this new policy will be banned on Facebook's core app, and also in other places where Facebook sells ads. Which includes instagram and its ad network.
“This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices,” says Rob Leathern, one of Facebook's ad tech directors. “We will revisit this policy and how we enforce it as our signals improve.”
The cryptocurrency boom/bubble has led to scams and costed a lot of people. Scams are illegal, but gambling on investments you don't understand is not.
Which Facebook is misunderstanding.
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It is very bad :(