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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Anyone speaking in favour of Pakistan is wrong, it amounts to treason: Siddaramaiah
Bengaluru (PTI): Karnataka Chief Minister Siddaramaiah on Wednesday said that anyone speaking in favour of Pakistan is wrong and it amounts to treason.
He however said that inquiry is on in connection with alleged "mob lynching" of a man, accused of of shouting 'Pakistan Zindabad' slogan, in Mangaluru.
"If the Pakistan Zindabad slogan was shouted, it is wrong, whoever it is. Inquiry is still going on, a case has been registered, let the report come. It will be clear as to what action should be taken against whom," Siddaramaiah said, responding to a question by reporters on killing of a person in Mangaluru allegedly for shouting 'Pakistan Zindabad' slogan.
"If anyone speaks in favour of Pakistan, it is wrong, it is treason," he added.
Home Minister G Parameshwara said, a person was "lynched" in Mangaluru, and while interogating those behind the incident, they have claimed that the victim shouted 'Pakistan Zindabad' slogan.
"It is being further investigated. Only those arrested said this. Nearly 20 people have been arrested now. Police are also finding out about the person (deceased) and his origins. We have taken the incident seriously. Further investigations are on and there were many people who had gone to play the cricket match. They are all being questioned to gather information. Investigation is very serious," he said.
When asked if the deceased person was from Kerala's Wayanad, Parameshwara said, there is such information and it needs to be verified, by establishing his identity and contacting his parents.
To a question, were there any failure on the part of the police as there are reports that they allegedly tried to project it as suicide initially, he said, "We have no such information. If any such thing is there it will come out from the investigation. If any police failures are identified, appropriate action will be taken,"
The Home Minister assured that the case has been taken seriously and there should be no apprehensions that it is being taken lightly.
However, according to police, the deceased has been identified as Ashraf from Pulpalli village in Sultan Bathery Taluk of Wayanad district in Kerala.
The incident had happened during a local cricket match near the Bhatra Kallurti temple in Kudupu village on the outskirts of Mangaluru, on April 27, police said.
Ashraf was allegedly assaulted with sticks, resulting in multiple injuries that led to internal bleeding and shock, police said adding he was declared dead at the hospital.
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