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Facebook Eases Ban on Cryptocurrency Related Ads

But the company will continue to block any ads that promote binary options and initial coin offerings

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LinkedIn faced probe for Facebook ads targeting 18 mn non-members. Pixabay

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”.

Representational image.
Representational image. Pixabay

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.

Also Read: Facebook Hires A Team To Find Troubles Before They Arise

“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. (IANS)

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Facebook Rolls Out an Update to Rank Comments on Public Posts to Make Conversations Meaningful

The users can moderate the comments on their post by hiding, deleting or engaging with comments

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Facebook will now start showing comments on public posts more prominently when the comments have interactions from the page or the person who originally posted or from friends of the person who posted. Pixabay

In a move to make conversations on public posts more meaningful, Facebook has rolled out an update where it will rank comments to promote those that are most relevant to users.

Facebook will now start showing comments on public posts more prominently when the comments have interactions from the page or the person who originally posted or from friends of the person who posted.

“We will continue to take other signals into account so we do not prominently show low-quality comments, even if they are from the person who made the original post or their friends,” Justine Shen, Product Manager at Facebook, said in a statement on Friday.

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FILE – The logo for Facebook appears on screens at the Nasdaq MarketSite, in New York’s Times Square, March 29, 2018. VOA

The users can moderate the comments on their post by hiding, deleting or engaging with comments. Ranking is on by default for Pages and people with a lot of followers, but Pages and people with a lot of followers can choose to turn off comment ranking.

ALSO READ: Facebook Now Expands Ad Breaks to Marathi, Punjabi, Kannada and Telugu

People who don’t have as many followers will not have comment ranking turned on automatically since there are less comments overall, but any person can decide to enable comment ranking by going to their settings.

“We want people to see safe and authentic comments. If a comment violates our community standards, we remove it. “We also take into account other signals, like engagement-bait, to address the integrity of information and improve the quality of comments people see,” said Facebook. (IANS)