back to article Suspicion of villainy leads Facebook to ban cryptocoin ads

Facebook has banned ads for cryptocurrencies from its platform, on suspicion that plenty of them will be placed by scammers. A new Clause 29 in the "Prohibited Content" section of its Advertising Policies says: "Ads must not promote financial products and services that are frequently associated with misleading or deceptive …

  1. Anonymous Coward
    Anonymous Coward

    'Facebook ads without fear of scams or deception'

    Sounds like heaven... Meanwhile anyone notice Zuk's new Data Perv 'Principles'? Its anything but a fountain of knowledge! Yet 'Facebook friendly RTE.ie' (Facebook's Irish PR bitch & pal of lite-touch regulator DPC), don't want you thinking that. FB is a cult. Zuk is a cult leader. One day, there will documentaries made about this 'Church of Zukientology':

    https://www.rte.ie/news/world/2018/0129/936674-facebook-privacy/

    1. Mage Silver badge

      Re: Not just RTE

      But also BBC.

      Generally the Medja are obsessive about so called Social Media and it's a disgrace that BBC & RTE promote Facebook and Twitter ON AIR!

      1. Anonymous Coward
        Anonymous Coward

        'It's a disgrace that BBC & RTE promote Facebook and Twitter ON AIR!'

        Sure is strange, Every time they plug these social media giants, they're ushering in their own demise... Why don't they see that?

      2. Teiwaz Silver badge

        Re: Not just RTE

        Well, RTE also have adverts in addition to a Licence Fee.

        What's the BBC's excuse for the blatant product placement.???

    2. The Man Who Fell To Earth Silver badge
      FAIL

      What do people expect?

      When the fox is running the hen house, they are going to view other foxes as enemy just as a true farmer would.

  2. ShelLuser

    Guilty until proven innocent?

    Ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency.

    Although I can understand where it's coming from I do not like the "guilty until proven innocent" approach at all. It also seems a bit hypocrite to me. After all: there's no telling what foul play goes on with standard currencies. That's also often used to buy weapons, drugs and other nasty stuff yet no one bans its use because of that.

    What's next? Banning $foreign_currency advertisements because you don't like them? After all those reports about evil Russian hackers I guess you really shouldn't accept roubles any longer eh?

    1. Pascal Monett Silver badge
      Stop

      Re: Guilty until proven innocent?

      You're confusing government and private company. Facebook has no obligation to respect Free Speech, nor is it expected to deal with ads by respecting the criminal code.

      Facebook is a private company, it can do as it sees fit and, in this case, I applaud The Zuck (hurgh! I actually wrote that) in restricting scumbag access to an unwitting population.

      1. Voland's right hand Silver badge

        Re: Guilty until proven innocent?

        Facebook is a private company, it can do as it sees fit

        No. Any private company providing a public service is obliged to comply with anti-discrimination legislation and a few other things.

        That also provides a clear route to bypass the ban. I am not going to elaborate how to name your Kleptocurrency and how to formulate your initial coin offering. Guess yourself.

        1. Pascal Monett Silver badge

          Somehow I doubt that anti-discrimination legislation is going to have any place in this particular picture, but I grant you that Facebook likely cannot prevent minorities (in the US) from creating a profile and using the site. Nor does it, AFAIK.

          I maintain that Facebook is not obliged to support freedom of speech, nor is it required to apply court process to any issue it might face with respect to users of its platform - within the law, of course. So Facebook Stormtroopers bursting into a scammers' house and hauling him and his equipment off to a dark, dank dungeon are off the table - however satisfying that may be for some.

          Allegedly.

  3. Anonymous Coward
    Anonymous Coward

    KleptoCurrencies

    are sooo last year.

    1. MK_E

      Re: KleptoCurrencies

      My favourite was the one that was literally named "Ponzicoin" and people were surprised and upset when they took the money and ran.

  4. redpawn Silver badge

    Beer Coin

    is not a scam.

    1. Sgt_Oddball Silver badge

      Re: Beer Coin

      If only it was free....

  5. ratfox Silver badge
    Angel

    I've seen a few ads on El Reg about blockchain being the future of the apartment rental industry...

    1. Teiwaz Silver badge

      I've seen a few ads on El Reg about blockchain being the future of the apartment rental industry...

      That's going to add to the confusion, Blockchain <> Apartment Block.

      I'm all for just banning all ads that are just silly. That ones rife for the metaphorical raw chicken over the head knight.

  6. RyokuMas Silver badge
    WTF?

    Facebook has ads?

    www.fbpurity.com

    1. Zippy's Sausage Factory
      Thumb Up

      Re: Facebook has ads?

      I opened FB in a browser without FBP in it by accident the other day.

      Never. Ever. Again.

      *shudders*

  7. Mage Silver badge
    Pirate

    Must be bad.

    Facebook only exists to make Zuk money from adverts.

  8. Alister Silver badge
    Holmes

    "That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith."

    See Icon

    1. Sgt_Oddball Silver badge
      Paris Hilton

      And Facebook always was?

  9. I ain't Spartacus Gold badge

    Selective clean-up

    I'm not complaining, as this is clearly a good policy. Just surprised that Facebook care. I guess it's because the public crash and explosion of the bubble is looking increasingly likely to happen any-day-now - and they don't want to look like they were helping.

    Whereas whenever I sign on to Facebook I get the lowest quality ads. I only log in a few times a year, to look at family photos, and have filled in little info. So they've not got much info to go on to target ads, and so it's brides from Ukraine and Win a Free iPad crap.

    As 90% of those are scams, why aren't they also banned?

    1. Rockets

      Re: Selective clean-up

      Facebook really need to more about the really low quality of ads of Facebook and some of the blatant knock offs being flogged by dodgy retailers. eg I get ads for Calvin and Hobbes merch regularly but I know that the author, Bill Watterson, doesn't license Calvin & Hobbes merch at all. Heaps of Star Wars knock off products and LEGO knock off's like Lepin being advertised. Seems most of the time as long as your cheque doesn't bounce Facebook are all too happy to run your ads.

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