Facebook Inc. has banned ads for cryptocurrencies, initial coin offerings and binary options, the company said Tuesday. Facebook stock is up less than 1% to $187.11 in late afternoon trading. In a blog, Facebook product management director Rob Leathern wrote the company believes that ads should be safe and “misleading and deceptive ads have no place on Facebook.” Leathern described the ban as “intentionally broad” and the company plans to begin enforcement on its core app, as well as the Audience Network and Instagram. Facebook stock has gained 43% in the past 12 months, as the S%P 500 index rose 25%.
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