Taming the Wild West

Facebook is banning all ads promoting cryptocurrencies in an effort to prevent people from advertising what the company is calling “financial products and services frequently associated with misleading or deceptive promotional practices.”

The Facebook team says the cryptocurrency boom/bubble has led to scams and wild price fluctuations that have cost a lot of people, including unsophisticated investors, a lot of money.

Facebook’s board of directors includes two investors (Marc Andreessen and Peter Thiel ) whose firms have been prominent cryptocurrency backers. Facebook Messenger boss, David Marcus, is also on the board at Coinbase. I'm interested to see how these conflicting interests will play out down the line...