Published: Mon, March 19, 2018
IT | By Lester Massey

Twitter to ban an array of cryptocurrency ads

Twitter to ban an array of cryptocurrency ads

"Twitter may also ban all ads for cryptocurrency exchanges, with some limited exceptions, when the policy is launched", said Sky.

Sky News understands that the new advertising policy will be implemented in two weeks and now stands to prohibit advertisements for initial coin offerings (ICOs), token sales, and cryptocurrency wallets globally.

Big G noted not too long ago that there are more than three billion ads in violation of its policies, with some being used to promote non-existent funding rounds for emerging cryptocurrencies - something Twitter has been battling with.

Jack had then tweeted, "Instant buying (and selling, if you don't want to hold) of Bitcoin is now available to most Cash App customers". Inc42 has contacted Twitter Ads team in this regard and any development further shall be updated, as it comes.

With Facebook and Google both deciding to ban all cryptocurrency-related advertising on their online platforms, it was probably only a matter of time before other powerful online companies followed suit. The policy is supposed to go into effect from June 2018 onwards.

Both Facebook and Google have imposed similar bans, as it has become increasingly clear that USA financial regulators such as the CFTC and SEC regard many cryptocurrencies as investment offerings. Banning cryptocurrency ads completely seems like an overpowered reaction.

Google has already announced restrictions on the advertising of cryptocurrencies over its advertising platform.

In January, Facebook, world's largest social media network added a new advertising policy and banned all advertising for cryptocurrencies saying they are frequently associated with misleading promotional practices.

Like this: