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Facebook announced Tuesday it would no longer allow advertising for any cryptocurrency products or services.
The BBC reported that the company said it was open to emerging technologies but many companies were not acting in "good faith" when extolling the virtues buying into virtual currencies.
Recently, a wave of new currencies have emerged, seeking to piggyback Bitcoin's huge increase in value.
Facebook advised users to report any ads that the social media company may have missed.
Under the new policy, advertising using phrases such as "New ICO! Buy tokens at a 15% discount NOW!" or "Use your retirement funds to buy Bitcoin!" would not be permitted, Facebook said.
- Gilbert Horowitz, Gambling911.com
