Facebook eases ban on cryptocurrency ads
San Francisco, June 27 : Facebook said on Tuesday that it is taking steps to ease a January policy banning financial products and services associated with cryptocurrency.
Rob Leathern, Product Management Director at Facebook, said in an official blog post that the world's largest social media network has "looked at the best way to refine this policy -- to allow some ads while also working to ensure that they're safe."
Facebook announced a broad policy in January this year which prohibited "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".
The policy, which even stopped legitimate businesses from buying advertisements, aimed to better detect what Facebook called deceptive promotional practices by many companies advertised binary options and cryptocurrencies without good faith, Xinhua reported.
Leathern announced that starting June 26, Facebook will be updating its "policy to allow ads that promote cryptocurrency and related content from pre-approved advertisers".
But the company will continue to block any ads that promote binary options and initial coin offerings, he said.
Advertisers are required to submit an application to Facebook before hand if they want to run ads for cryptocurrency products and services, so that Facebook can assess their eligibility, including any licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public background on their business.
Under these restrictions, not everyone who wants to advertise will be able to do so, Facebook said.
"But we'll listen to feedback, look at how well this policy works and continue to study this technology so that, if necessary, we can revise it over time," Leathern wrote.
Last month, Facebook established a new experimental blockchain group dedicated to the technology that powers cryptocurrencies like bitcoin.
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CM Siddaramaiah labels Kumaraswamy 'Manuvadi" over Bhagavad Gita curriculum push
Bengaluru (PTI): Karnataka Chief Minister Siddaramaiah on Saturday took a swipe at Union Minister H D Kumaraswamy, by calling him a "Manuvadi" after his alliance with the BJP, for seeking the inclusion of Bhagavad Gita in curriculum for students.
The CM's dig came in response to Kumaraswamy's recent letter to Union Minister for Education Dharmendra Pradhan, requesting the inclusion of the Bhagavad Gita in the curriculum of students.
"After Kumaraswamy joined hands with the BJP for elections, he has become a Manuvadi," Siddaramaiah told reporters here after paying tributes to B R Ambedkar on his 69th death anniversary here.
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Remembering Ambedkar, Siddaramaiah highlighted his contribution to the Constitution and his relentless fight to provide social justice.
The CM noted said fed up with social and caste system in Hinduism, and unable to reform it, Ambedkar accepted Buddhism.
He said, "Ambedkar, towards the end of his life, quit Hinduism and joined Buddhism. He was born in Hinduism, but cannot die in Hinduism, because he could not reform Hinduism, despite several efforts, so he accepted Buddhism."
