As the launch of Facebook’s cryptocurrency project grows nearer, the network is still struggling with scrubbing fake crypto ads.
Facebook’s cryptocurrency project has gained a lot of media attention recently–and rightfully so.
Earlier this month, it was announced that the project, which had remained under wraps for months, was to be launched in a matter of weeks. Talks with regulators have been underway; some analysts are saying that Facebook’s cryptocoin is the biggest thing that has happened to the industry since the birth of Bitcoin.
But not all has been well in Facebook’s recent dealings with cryptocurrency-related matters. Since Facebook’s comprehensive ban on advertising for crypto-related products and services was lifted a year ago, a number of fraudulent companies have managed to slip through the social media network’s vetting process.
Why is this continuing to happen? And what does it mean for Facebook’s cryptocurrency?