March 28, 2018

Twitter to ban crypto currency adverts

Twitter to ban crypto currency adverts

Twitter has said it is going to place a ban on most cryptocurrency adverts on its platform. Twitter’s new resolve means it has joined other social media platforms like Facebook and Google in a clampdown on the nascent industry.

The San Francisco-based firm announced that before weekend, it will launch a policy that prohibits advertising of initial coin offerings, ICOs, a form of crowd-funding used to raise cash by creating new coins.

Also included are adverts that promote token sales and crypto wallet services, the company said in a statement.

The policy will also ban adverts from crypto-exchanges, with some limited exceptions.

Twitter said this month it was taking measures to prevent crypto-related accounts from engaging with others in a deceptive manner,’ but it has faced calls to go further after bans by Facebook and Google.

Facebook restricted crypto-related adverts in February, while Google announced a ban on March 14 for June.