Ads for bitcoin are still ending up on Facebook despite a crackdown on cryptocurrency advertising. Facebook banned bitcoin and other cryptocurrencies in January in an effort to protect its users from “financial products and services frequently associated with misleading or deceptive promotional practices". But crypto companies have found ways to get around the ad ban. Tech founder Matthieu Suiche pointed out a Facebook ad last week that successfully broke through the rules by using "BITC0IN" in the shared text and article headline. Another example, shared by BuzzFeed's Ryan Mac, used 'Block (Chain)' to get around the ban, spruiking its services alongside an image of Kevin Spacey. Facebook is attempting to clean up its platform following admissions its platform facilitated fake news and manipulated elections. While the platform has been building its artificial intelligence capabilities, the social networking giant has so far found real people are more reliable. It has since been hiring thousands of new employees around the world to address the problems. AdNews asked Facebook if the above ads have been removed. Facebook is yet to respond. Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.
Advertisements for bitcoin and other cryptocurrencies are still appearing on Facebook, despite the social network's ban on such practices. The company imposed the ban last month as part of its efforts to protect users from financial products "frequently associated with misleading or deceptive promotional practices". However, advertisements have managed to evade the ban by misspelling "bitcoin" and "blockchain", substituting numbers for letters and putting parts of the words in brackets. Tech experts and journalists have highlighted a number of such examples on social media.