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Facebook says it’s banned ‘misleading’ financial ads

Business

NEW YORK (AP) – Facebook says it is banning ads for financial products often associated with deceptive practices, including those involving cryptocurrencies such as bitcoin.

The new policy says ads can’t promote such services, which also include those involving initial coin offerings. Those offerings are a means of raising capital by selling digital currency that can then be traded. The digital coins or tokens represent an interest in a company.

Facebook says examples of fraudulent ads include phrases like “use your retirement funds to buy Bitcoin!”

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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