Facebook is banning all ads that promote cryptocurrencies, according to a blog posted by the company. The move comes after the company promised to stop advertisements of "financial products and services frequently associated with misleading or deceptive promotional practices," according to Facebook.

The blanket ban includes Bitcoin and other legitimate cryptocurrencies on Facebook. "This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices," Rob Leathern, one of Facebook's ad tech directors, explained. "We will revisit this policy and how we enforce it as our signals improve."

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