Facebook closes the announcements on ICO and cryptocurrency: harsh position taken by Mark Zuckerberg's company.
Facebook stated that it intends to block all advertisements promoting ICO and cryptocurrencies. Why? According to what a manager of the company declares, while confirming the "open" spirit of the platform towards the emerging technologies, Zuckerberg's company noted that many advertising companies have not acted in "good faith", uncritically enhancing virtual currencies.
Rob Leathern, the manager of product management for Facebook Business, stated in this regard that it is Facebook's desire to ensure that people can continue to discover new services through advertising, but without fear of fraud or deception.
The reference is intuitively to the fact that many companies have used the ICO as a simple way to find large sums of money, but not all the promoting companies have kept faith with the promises and, in some cases, they are essentially disappeared into nothing. Facebook has in mind how to use ads on its platform - especially if accompanied by the presence of known testimonials - is a great incentive to attract users towards "new" and apparently "promising" assets.
And so, in its new rules in force, Facebook has placed a strong grip on cryptocurrencies. As an example, leathern stated that "the advertisements must not promote financial products and services that are associated with deceptive promotional practices", citing as an example their own cryptocurrency and the initial offers of coins, often used as "levers" to convince unsuspecting savers and investors towards these high-risk elements. In short, based on the new policy, advertising like "New ICO! Buy tokens with a discount of 15%! ”Or“ Use your pension funds to buy Bitcoins ”will no longer be allowed. But will it be enough to increase the security level of Facebook users?