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Twitter joins Google and Facebook to ban cryptocurrency ads

CIOL Writers

27 Mar 2018 09:23 IST

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Following in the footsteps of Google and Facebook, micro-blogging site Twitter too has banned cryptocurrency ads from its platform.

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“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,” the company said. “Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally.”

The new policy, which will be rolled out over the next 30 days, will also ban ads by cryptocurrency exchanges and cryptocurrency wallet services, unless they are public companies listed on certain major stock markets.

For Japan, these will be limited to crypto exchanges regulated by its national financial regulator, Twitter said.

Reports about Twitter contemplating a ban have been making rounds for quite some time now. Earlier this month, the company began removing accounts that intentionally solicit cryptocurrency exchanges, impersonating famous figures like Elon Musk, John McAfee, and Ethereum co-founder Vitalik Buterin.

Facebook and Google have already banned cryptocurrency ads. While, Facebook’s ban has already taken effect, Google’s would be implemented in June.

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