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Facebook announced a new advertising policy which prohibits “ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.”

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“We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception. That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith,” said Rob Leathern, Facebook’s Product Management Director.

Leathern accompanied the statements commenting that the ad policy encompasses all Facebook owned entities, including Instagram.

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“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,” Leathern stated.

“We will revisit this policy and how we enforce it as our signals improve.”

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