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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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Facebook unveils AI-powered video chat speakers amid privacy concerns. Pixabay
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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.

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“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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Social Networking Giant Facebook To Develop Camera-Equipped Set-top Box For TVs

Facebook declined to comment on the subject, the report added

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Facebook likely to launch camera-equipped hardware for TVs. Pixabay

Social networking giant Facebook is developing a camera-equipped set-top box for TVs that would support functionalities like video-calling, a media report said.

Internally codenamed “Ripley”, the device would use Artificial Intelligence (AI) to automatically detect and follow people as they move through the frame during a video call, news website Cheddar reported on Tuesday.

Apart from facilitating video-chat, the device could also help Facebook compete with the likes of Apple and Amazon in the TV-segment.

In October, the social networking major launched its smart-speakers — “Portal” — which incorporated AI technology to follow user-movements while on a video-chat amd remove unwanted background noise during a call.

Facebook
Facebook, social media. Pixabay

Priced at $199, sporting a 10-inch display, built-in Amazon Alexa support and pre-loaded with Facebook’s own “Watch” video service, the smart speakers would begin shipping in November.

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With projects like “Portal” and “Ripley” Facebook is trying to build a consumer-hardware business outside of its virtual reality brand ‘Oculus’ that was acquired by the social networking giant in March 2014 for nearly $2 billion.

Facebook declined to comment on the subject, the report added. (IANS)

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