Why facebook ban cryptocurrencies ads

[hani20980]

As we know facebook doesn't accept cryptocurrencies ads when other similar platforms like twitter accept those ads normally
do you know why facebook ban crypto ads even that facebook create LEBRA which is a cryptocurrency ?

 

[mikenova22]

i think its mostly because crypto has a lot of sketchy stuff, so they cant guarantee the ads arent for scams

but i think its too much to ban all ads.. they should just verify they are not scams and only allow those

 

[hani20980]

i think its mostly because crypto has a lot of sketchy stuff, so they cant guarantee the ads arent for scams

but i think its too much to ban all ads.. they should just verify they are not scams and only allow those

Yeah but i think it's hard to check each ads and see if it's a scma or not

 

[mikenova22]

Yeah but i think it's hard to check each ads and see if it's a scma or not

i suppose thats why they banned them all, but still, its facebook..

they have tens of thousands of employees and im sure they have to check normal ads for scams too?

 

[Ryan]

Crypto currnecies are consider as scam and a lots of people lose their money just because they put thei money without getting any knowledge. The number of scamming increased due to facebook ads so the owner just banned it. I think he took the right decision

 

[Niftyyem]

I think that Facebook does not want to be in the position of having to take responsibility if something goes wrong.

 

[mikenova22]

I think that Facebook does not want to be in the position of having to take responsibility if something goes wrong.

yeah this probably is it, facebook is pretty iffy about ads altogether, they banned political ads too as far as i know

 

[Vladv26]

Facebook started banning ads when the internet was full of ICO scams. Probably they had many complaints from users about this and they decided to ban all crypto related ads because there is no way for them to verify if it is legit or not

 

[GoldenLady]

i think its mostly because crypto has a lot of sketchy stuff, so they cant guarantee the ads arent for scams

but i think its too much to ban all ads.. they should just verify they are not scams and only allow those

Facebook won't do that for you. The only way is if you can find a loophole around those rules.

Just like I experienced with network marketing ads on Facebook, once a business is associated with lots of scams, even legitimate ones are rejected.

Facebook also hates anything that has income claims in it.

 

[Damscooguns73]

Concerning why Facebook bans cryptocurrencies advert. I think Facebook dont want to associate with what will later be of scam to their users, as we know cryptocurrencies to be legit, they are some people that are ready to scam other.

 

[Mujahid12]

As we know facebook doesn't accept cryptocurrencies ads when other similar platforms like twitter accept those ads normally
do you know why facebook ban crypto ads even that facebook create LEBRA which is a cryptocurrency ?

I am not confirmed but I was told by a friend that cryptocurrency ads on Facebook because then they have been ban because of scamming that some people are also spammers. They gets scanned with the system.

 

[tuna89]

The ban on the crypto ads were due to the increased scam in the crypto world, this is a major reason why fake airdrops make use of twitter and telegram to promote their scams, a nice move I guess.

 

[Tienda]

Is possible a such USA law prohibit for the companies promoting illegal ads! If Facebook is one of the big companies in the USA, and also they have planned to launch their Libra cryptocurrency, then changed it to the Diem cryptocurrency..etc I think the reason why they have not launched their coin and banned cryptocurrency ads is because of the law.

 

[zagzagi]

Facebook states that ads for cryptocurrency and materials required for cryptocurrency mining are often misleading. All ads related to cryptocurrencies were banned, not just keywords trying to sell cryptocurrencies or cryptocurrencies. For this reason, ads for Bitcoin wallets, for example hardware required for Ethereum mining, were also banned.

 

[Ltherman]

I think one of the reasons for the ban on crypto ads was how sketchy the regulations were back then infact there was absolutely no regulation whatsoever and people were losing funds to scam projects then. I think this necessitated the ban placed on anything related to that.

 

[Kelvin7656]

Facebook first started blocking ads promoting cryptocurrencies and initial coin offerings in January 2018 over concerns that users might be scammed by initial coin offerings offered by some crypto start-ups. The company loosened its ban in June to allow ads from advertisers who received prior written approval.

 

[GIFTMICHAEL]

Facebook doesn't allow crypto currency ads this might be that they do not have any agreement to that effect.

There must be clear partnership within them for there to be a cross business between them.

You don't have to blame Facebook on this because there has to be memorandum of understanding first

 

[Akinwale701]

As we know facebook doesn't accept cryptocurrencies ads when other similar platforms like twitter accept those ads normally
do you know why facebook ban crypto ads even that facebook create LEBRA which is a cryptocurrency ?

it may be because people are abusing Crypto currency ads, maybe that was why it was banned on facebook for advertising purpose. However, one can't say exactly what led to that but I'm sure it must have been against their community standards.

 

[Asad Ali]

Advertising was allowed on Facebook but some fake people started robbing people and some websites were fake which did not pay.As a result, the ads were blocked after receiving complaints.Because there is a lot of counterfeiting going on and a lot of people have lost their money

 

[Kinglegend01]

I dont hava an idea as to why Facebook always blocks all cryptocurrency ads, maybe because there scammers and bad people use cryptocurrency to deceive and scam people and Facebook is not able to verify if the poster is scammer or not. It could probably be because they had many complaints from users about this and they decided to ban all crypto related ads because there is no way for them to verify if it is legit or not