Facebook Stops Blocking Some Blockchain Ads

One year after banning all blockchain-related ads, Facebook is updating its ad policies for financial services and products and allowing ads for 'blockchain technology, industry news, education or events related to cryptocurrency' without the need for pre-approval. TechCrunch reports: Facebook's goal was to prevent users from getting scammed by Initial Coin Offerings and other cryptocurrency deals where providers had little to no accountability. In January 2018 at the height of the crypto craze, it blocked all blockchain related ads. In June 2018 it began allowing some if they received pre-approval. When Facebook users get scammed, they don't just blame the scammer but the social network too. Facebook initially cast a wide net in its ban to prevent this.

Users began seeing ads for blockchain education yesterday. Additionally, beginning June 5th Facebook will ban ads for 'promoting contracts for difference (CFDs), complex financial products that are often associated with predatory behavior. These products, due to their complexity, often mislead people.'

Read more of this story at Slashdot.