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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BJP worker’s 16-year-old son allegedly casts eight votes in Uttar Pradesh’s Farrukhabad; Video viral
Lucknow (Farrukhabad): A viral video has surfaced showing a 16-year-old son of a BJP worker allegedly casting eight votes to the saffron party during the ongoing general elections in Uttar Pradesh. The video has sparked controversy, and the opposition has urged for prompt action from the Election Commission of India, reports scroll.in.
The video shared by the Samajwadi Party President Akhilesh Yadav on micro-blogging site ‘X’, showed the youngster recording himself while casting multiple times in a series of instances. The incident reportedly took place in Khiri Pamaran village, which falls under the Aliganj Assembly constituency within the Farrukhabad parliamentary seat. Mukesh Rajput, the sitting MP, is the BJP candidate in this constituency. Polling in Farrukhabad occurred on May 13 during the fourth phase of the general election.
In the viral video, the youngster is seen casting eight votes in total, all for the BJP, one by one with different clippings.
The youngster in the video has been identified as Rajan Singh Thakur, confirmed his father, Anil Singh Thakur to the Scroll.in. Anil Singh Thakur is the gram pradhan (village head) of Khiri Pamaran and a member of the BJP.
Anil defending his son told the Scroll that the ‘Video misrepresented his son,’ and claimed that the voting was done when the machine was being tested in some instances and other clipping of him voting on behalf of mentally and physically disabled voters was merged and made into a video.
Despite the Anil's caims, the video has drawn significant criticism. Subhash Chandra Prajapati, the additional district magistrate of Farrukhabad, confirmed to the Scroll that the administration will file a case soon. He mentioned that the returning officer is investigating the matter following a directive from the chief electoral officer in Lucknow.
The opposition has been vocal in its criticism, with Akhilesh Yadav demanding action from the Election Commission. In his social media post, Yadav accused the BJP of undermining the electoral process and described the party's booth committee as a "loot committee." The Congress party also called on the Election Commission to take action, in a ‘X’ post the party wrote, “Dear Election Commission…are you watching..a boy is voting 8-8 times ... .at least wake up now.”
Congress leader Rahul Gandhi, took to ‘X’ to express, “Fearing and seeing their defeat, the BJP is attempting to undermine democracy by pressuring government machinery to deny the mandate. The Congress expects all officers performing election duties to remember their constitutional responsibilities despite any pressure from those in power. Otherwise, once the Indian National Developmental Inclusive Alliance (INDIA) bloc government is formed, actions will be taken to ensure that anyone will think ten times before violating their 'Oath to the Constitution'."
Following the video's circulation, Naval Kishor Shakya, the Samajwadi Party candidate in Farrukhabad, filed a complaint with the district election officer. Shakya's complaint alleges that Rajan Singh Thakur cast votes after snatching voter information slips from other voters and that he was assisted by Dinesh Thakur, the local police station's station house officer. Shakya has called for re-polling at the affected polling center.
In a related incident earlier in May, Gujarat Police arrested two BJP workers for allegedly casting bogus votes and live-streaming the act on social media in the Dahod constituency. The Election Commission conducted re-polling at the affected booth following the incident.
The opposition INDIA bloc, including the Congress and the Samajwadi Party, has repeatedly accused the Election Commission of failing to take prompt action against election model code of conduct violations.
अपनी हार सामने देख कर भाजपा जनादेश को झुठलाने के लिए सरकारी तंत्र पर दबाव बना कर लोकतंत्र को लूटना चाहती है।
— Rahul Gandhi (@RahulGandhi) May 19, 2024
कांग्रेस चुनावी ड्यूटी कर रहे सभी अधिकारियों से यह अपेक्षा करती है कि वो सत्ता के दबाव के सामने अपनी संवैधानिक ज़िम्मेदारी न भूलें।
वरना INDIA की सरकार बनते ही ऐसी… https://t.co/fk4wXL8QZy
