First it was a crackdown on “fake news” which in the world of Facebook is anything that is not left wing propaganda, then on Russian ads, now it’s cryptos.
In a statement posted on its website on Tuesday afternoon, Facebook announced that it has created a new policy “that prohibits any and all 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 lists the follow four examples of ads that will no longer be allowed:
It is worth noting that the last time Facebook actively engaged in content moderation, when it implemented a “fake news” flag which ended up being a flag on all conservative and alternate media only to see demand for “fake news” stories surge, it will be interesting to note if Zuckerberg’s latest attempt to sway public opinion backfires, and leads to even more demand for cryptocurrencies.
All hail the mighty Zuckerberg! He knows what is good for you and me.