Saturday, 22 September, 2018

Twitter to ban cryptocurrency advertisements

Twitter to prohibit cryptocurrency ads on its platform Twitter will start banning cryptocurrency ads tomorrow
Nina Mathis | 29 March, 2018, 02:25

Social-media platforms are keeping cryptos away as regulators cast an increasingly wary eye on the sector globally. Facebook added advertising related to "binary options, initial coin offerings, or cryptocurrency" under its 'prohibited financial products and services' policy earlier this year.

Twitter says it will ban or restrict advertisements related to cryptocurrencies in an attempt to crack down on fraud.

The other financial products and services that are prohibited from advertising/ being advertised are banking services and banking institutions, loan products and services, mobile and electronic payments, mortgages and related services, including debt relief or assistance services, investment advice, investment opportunities, and offers to increase wealth, insurance products and services and securities.

Last week it was reported by EthereumWorldNews, that Twitter was planning on banning advertisements related to digital currencies, ICOs, and token sales. According to reports, a new policy has been added for Twitter to ensure the safety of users in the community.

The microblogging platform Twitter will not allow any cryptocurrency initial coin offerings (ICOs) and cryptocurrency token sales on its platform, as per its updated policy. Twitter joins social media giant Facebook and Google, the world's largest online ad provider, both of which have banned cryptocurrency and ICO ads from their platforms.




Rumors initially circulated a week ago that Twitter would ban such ads.

Facebook has restricted crypto-related adverts, while Google announced a ban that comes into force in June.

When the Twitter ban was first hinted at, CNBC report that Bitcoin prices fell sharply. "If we value civic discourse and fair elections, they have to step up and answer to more than their shareholders", he said.

"The Facebook sources believe Zuckerberg's willingness to testify will also to put pressure on Google CEO Sundar Pichai and Twitter CEO Jack Dorsey to do the same".

However, some crypto experts such as Brian Kelly, the founder and CEO of BKCM, are convinced that the news is not significant and that the crypto market will not be hurt. "The biggest potential short-term catalyst is increased trading in South Korea as that government re-embraces crypto", he said.

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