January 30, 2018 / 9:46 PM / 10 months ago

Facebook to ban cryptocurrency-related ads

A Facebook logo is seen at the Facebook Gather conference in Brussels, Belgium January 23, 2018. REUTERS/Yves Herman

(Reuters) - Facebook Inc said on Tuesday it will ban ads promoting financial products and services tied to cryptocurrencies and initial coin offerings.

“We’ve created a new policy that 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,” Facebook’s product management director, Rob Leathern, said.

The new policy will be implemented across its platforms, including Facebook, Audience Network and Instagram, the company said. bit.ly/2FuwawS

Reporting by Munsif Vengattil in Bengaluru; Editing by Anil D'Silva

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