Following previous reports of a rumored prohibit, Twitter has announced that cryptocurrency and also ICO-related ads will be banned from the website beginning Tuesday, March 27, 2018.
Micro-blogging giant Twitter has confirmed its new policy in following the likes of Facebook and Google in banning advertising boosting crypto currencies and initial coin offerings (ICOs) from its platform. The ban will also incorporate all adverts associated with cryptocurrency exchanges and wallet services, with a noteworthy exception afforded to publicly listed businesses listed on certain important stock markets, including Reuters reports.
The ban will not apply to cryptocurrency exchanges registered and licensed to operate by the Financial Services Agency (FSA), the country’s financial regulator
A Twitter spokesperson explained in statements:
“We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally.”
The said social media account’s ban was first reported by Sky News a week ago, implying that the ban would come into effect at some point during the subsequent two weeks after they openly said it had been taking measures in preventing crypto-related accounts from “engaging with the others in a deceptive manner.” There’s been a significant rise of crypto-related scams on Twitter wherein scammers also have gone as far as hi-jacking verified Twitter accounts to trick users into parting with their cryptocurrencies.
Their new policy falls directly alongside the likes of Google and also Facebook who’ve announced their very own curbs on crypto-related advertisements. Facebook added advertisements related to ‘binary possibilities, initial coin offerings, or cryptocurrency’ under its ‘prohibited financial products and services’ policy earlier this year. Google, the world’s largest web marketing provider, announced its own ban on crypto advertisements that may come into effect in June.
