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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PM Modi, Serbian prez discuss ways to deepen cooperation across multiple sectors
New Delhi (PTI): Prime Minister Narendra Modi on Wednesday met President of Serbia Aleksandar Vučić and discussed ways to deepen cooperation in areas such as defence, manufacturing, fertilisers and infrastructure.
The meeting took place on the sidelines of the India AI Impact Summit being held here from February 16-20.
"Met President Aleksandar Vučić on the sidelines of the India AI Impact Summit. We discussed ways to deepen cooperation in areas such as defence, manufacturing, DPI, fertilisers and infrastructure. For many years, India and Serbia have worked closely and I am confident our ties will gain even more momentum in the times to come," Modi wrote on X.
Vučić said the two leaders were proud of the friendship between Serbia and India, and the people of the two nations.
"India is a reliable and important partner for us, and we want to deepen economic exchange and encourage new investment projects. I am especially happy because India wants significant participation in the Serbian #Expo," he said in a post on X in Serbian.
The India AI Impact Expo features more than 600 high-potential startups and 13 country pavilions showcasing international collaboration in the artificial intelligence (AI) ecosystem. Over 20 heads of state, 60 ministers and 500 global AI leaders are attending the summit.
