Facebook may be censoring Bitcoin and cryptocurrency websites once again

By Dorothy 02/1/20 12:08 AM

It is not clear whether Facebook has updated or changed their community guidelines again, prohibiting cryptocurrency content. A Twitter user named Eljaboom, founder and CEO of Ajoobs.com, a cryptocurrency asset marketing and PR company said that he received a failure message after a failure message and then received a warning that he cannot send links due to community guidelines violations.

Elijaboom reported that he could not send the link to the Bitcoin website to a colleague in Turkey.

Facebook is censoring #bitcoin related websites in the messenger app & on FB posts.

Wanted to send a legitimate article to a Turkish friend & it keeps failing.

Also got the second censorship message when trying to post this.

Whoever thinks censorship is not an issue in the US pic.twitter.com/vZ4kOFz8XW

— Eljaboom? (@Eljaboom) January 29, 2020

The last public update was from June 26, 2018, when the social media platform lifted the ban on cryptocurrencies. The troubled history of Facebook with cryptocurrencies dates back to the ICO boom of 2017. Many ICO projects have used platform advertising to advertise cryptocurrencies and direct blockchain projects for uninformed retail investors.

Facebook has banned advertising and cryptocurrency content because many of these advertised projects are complete scams. Or it’s legitimate projects that really broke out in the crypto winter bear market, and lost more than 90% of their value. After only a few days of announcing about Libra cryptocurrency, Facebook removed the ban on cryptocurrency content and advertising but with stricter guidelines, projects must be specified and show compliance.

Facebook only lifted the ban on cryptocurrencies when it benefited them

Facebook has faced a major regulatory push against its Libra launch plan and maybe trying to launch its own cryptocurrency news channel.

This tendency to participate in preserving this personal interest, which is considered hypocritical by cryptocurrency enthusiasts, argued that Facebook only lifted the ban on cryptocurrencies when it was beneficial to help launch Libra cryptocurrencies. It was this line of thinking that led many to speculate whether Facebook plans to launch its own cryptocurrency news channel.

While this is purely hypothetical, it is possible that in order to successfully launch its own crypto news channel, Facebook has once again banned news and content about cryptocurrency to allow them to ignore news that could be negative for Libra. Or, maybe it’s just Facebook trying to prevent non-cryptocurrency users from hearing about the Libra project’s struggle.

Facebook’s prohibit ads policy

In January, Facebook announced a new policy to ban the promotion of financial products and services often related to misleading or deceptive promotional activities.

Starting June 26, Facebook will update its policy to allow ads promoting cryptocurrencies and related content from pre-approved advertisers. But they will continue to prohibit ads promoting binary options and original coin services.

Advertisers who want to run ads for cryptocurrency products and services must submit an application to help us evaluate their eligibility. It is important that we continue to help prevent or remove ads that mislead these products and services.