Twitter Confirms Ban On Cryptocurrency Ads

Facebook and Google recently announced that they would no longer allow ads for cryptocurrencies on their platforms. It was reported about a week ago that Twitter was mulling a similar move on its platform to protect its users against scammers taking advantage of the hype surrounding digital currencies. Twitter has now revealed that it’s also going to ban cryptocurrency advertising.

Twitter has confirmed that it’s going to launch a new policy this week which will prevent advertisers from promoting initial coin offerings, token sales, and crypto-wallet services. ICOs are a form of crowdfunding that are used to raise money by creating new coins. There’s no shortage of scams where investors were cheated out of their money with promises of significant returns.

The microblogging network hasn’t confirmed when it’s new policy is going to be implemented but it did add that advertisers will also not be allowed to promote cryptocurrency exchanges and that there will only be limited exceptions to this rule. Twitter says that it will continue to improve this policy as the industry evolves.

This is the second step that Twitter has taken to protect its users against rising cyrptocurrency-related scams. It previously went after crypto-related accounts that were created to deceive users and cheat them out of their coins.

Adnan Farooqui
Categories: Web
Tags: cryptocurrencies, Twitter