Facebook's decision to crack down on such ads illustrates how far the cryptocurrency trend still has to go, not least with few checks and balances in place to stop "deceptive" practices.
It's certainly not a disastrous development, in the grand scheme of things, with much of the interaction around bitcoin et al taking place far away from the omnipresent social network.
Interesting move here as Facebook confirms it is banning all ads that promote cryptocurrencies, including bitcoin.
The move is in an effort to prevent people from advertising what the company is calling “financial products and services frequently associated with misleading or deceptive promotional practices.”
That means no advertiser — even those that operate legal, legitimate businesses — will be able to promote things like bitcoin and other cryptocurrencies, initial coin offerings — ICOs for short — or binary options.