Crypterium logo

Facebook Once Again Banishes Digital Asset Ads From Its Platform: But Loves DLT

February 13, 2019

Crypto influencer on Twitter, John Carvalho reported that Facebook has taken to rejecting any advertising remotely associated in name or content to cryptocurrency or its vocabulary. His grouse is that despite the advertisers subscribing to June 2018 regulations setup by Facebook, any posts which refer digital currencies is automatically rejected by Zuckerberg’s teams.

Facebook, the social network has always been encouraging of business activities on the platform including Payment modalities. However, it does appear to have a stunted view of the cryptocurrency phenomenon and is repeatedly keeping advertisements by developers and promoters away from its network. On the contrary, it is already exploring the technology on which cryptocurrencies run blockchain or decentralized ledger technology – for smart contracts on its own plan.

Dichotomy

Given the dichotomy that Facebook is demonstrating by banning even legit crypto adverts, there is an uproar from users.

One such aggrieved user has been John Carvalho, familiar to the crypto community as “bitcoin Error log” whose worst experience with Facebook over his e-commerce site, events using the  “c” word or crypto was shared by him on Twitter thus,

John Carvalho‏ @BitcoinErrorLog

“Hey @facebook, @facebookads, can you please fix your anti-Bitcoin advertising & boosting behaviors?! You say people can apply for exemption, but it never works. I can’t promote my events, I can’t promote by e-commerce site, and I can’t promote anything that even mentions crypto…”

Cryptowisser seconds the devious methods the social engineering site is adopting with respect to the DLT assets. In his tweet, Cryptowisser‏ @MrCryptowisser Feb 7,

Replying to @BitcoinErrorLog @facebook @FacebookAds

“Ditto. We experience the same issue. This so-called “exemption” is probably just a sophisticated way of buying time..”

The only response coming forth from the world’s largest social networking site, was Rob Leathern, the Director of Products at Facebook. His response to the co-founder of CoinTracker a crypto tax management company, Chandan Lodha was perhaps the closest to an official response from the company –

Chandan Lodha@cglodha..  Jan 31, 2019,

Replying to @cointracker_io and 7 others

“Same story with CoinTracker: months trying to get info to Facebook, only to get robotic responses that are *completely unhelpful*. Especially unfortunate for us because we are helping cryptocurrency users file their taxes as required by the law”

Rob Leathern

“I’ll share both of your feedback with the team working on the policy”

Advertisers woes

Rules for approval consist of multiple factors, including advertiser’s relationship with regulators, licenses since the company is yet to list on the stock exchange.  Advertisements which are affected by the ban on cryptocurrency ads are found to promote binary options as well as initial coin offerings (ICOs).

The story is sponsored by newconomy.

Join our Telegram news channel or other social media to stay updated!

Website ๏ Telegram ๏ Facebook ๏ Twitter ๏ BitcoinTalk ๏ Reddit ๏ YouTube ๏ LinkedIn

 

Share



Sign up for the latest updates



Follow us on social media and join Telegram Chat

We'd like to know you better to share only the most relevant news with you. Please fill in the form below

Get the first global crypto card

Join the first lucky users, and start using crypto in everyday life with the same ease as cash

Pre order card