Facebook Loosens Ban on Cryptocurrency Ads for Approved Vendors
- The update partially reverses a policy implemented in January
- Social network still prohibits ads for binary options, ICOs
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Facebook Inc. is loosening its ban on advertisements that promote cryptocurrencies like Bitcoin, saying such content will be allowed on the social network after going through an application process to determine the safety and legitimacy of the products.
The company first said it was blocking such ads in January, noting that they were often associated with misleading and deceptive practices. Facebook will continue to prohibit ads for other risky financial products including binary options and initial coin offerings, according to a blog post on Tuesday.