Tags: twitter | ban | cryptocurrency | ads

Twitter Reportedly to Ban Cryptocurrency Ads

Twitter Reportedly to Ban Cryptocurrency Ads
(Dimarik16/Dreamstime)

By    |   Tuesday, 20 March 2018 08:47 AM

Twitter reportedly is poised to ban a range of cryptocurrency advertisements amid looming regulation.

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

Twitter “may also ban all ads for cryptocurrency exchanges, with some limited exceptions, when the policy is launched,” Sky News reported.

The Twitter report comes days after Alphabet Inc.’s Google said it was banning advertisements for cryptocurrencies and initial coin offerings, the latest internet company to clamp down on the sector amid growing concerns about scams.

Google’s action, which takes effect in June and follows a similar move by Facebook earlier this year, sent the price of the best-known cryptocurrency, bitcoin, down more than 10 percent to its lowest in a month, Reuters reported.

Interest in cryptocurrencies has surged in the last year as their prices rocketed.

That growth has spawned online advertising used by hundreds of companies trying to raise funds by launching new coins or encouraging people to trade the virtual currencies.

“Improving the ads experience across the web, whether that’s removing harmful ads or intrusive ads, will continue to be a top priority for us,” said Scott Spencer, director of sustainable ads at Google, on the company’s official blog, The Keyword.

(Newsmax wire services contributed to this report).

© 2019 Newsmax Finance. All rights reserved.

   
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The social media platform may ban ICOs and almost all cryptocurrency exchanges, with just a few exceptions.
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2018-47-20
Tuesday, 20 March 2018 08:47 AM
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