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Twitter announces a ban on Cryptocurrency ads

Published

7 years ago

March 29, 2018

Twitter has announced a ban on ads for initial offerings of cryptocurrency or sales of virtual currency tokens, sending the value of bitcoin diving below US$8k. Photo credits: https://www.google.co.in

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Twitter, the online news and social networking company announced a ban on ads for initial offerings of Cryptocurrency or sales of virtual currency tokens this week.

After the announcement, the value of Bitcoin dropped below US$8k.

Twitter follows Google and Facebook, which have already announced their decision to ban cryptocurrency ads on their websites. The companies pointed out that the measure comes from a desire to protect users from misleading opportunities.

Twitter said in a statement: “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 new policy establishes that the advertisement of ICOs and token sales will be banned. “We know that this type of content is often associated with deception and fraud, both organic and paid, and are proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner,” said Twitter.

The value of Bitcoin dropped eight percent to US$7929 after the ad ban was announced. The social media platform is planning on modifying the ad policy as the digital currency market evolves.

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Athira A

Athira is a self-described “logophile” – a lover of words. She loves updating her vocabulary and playing around with words, to frame a sensible world of letters. Letters come alive when they become words and when words become sentences. And that’s her job, to put them together in a meaningful way without loosing its essence. She has written content for websites, articles and poems for an international magazine, and press releases as well. She also loves writing on social media. She holds a Masters degree in bio-technology, but she has always been interested in the organic farming of words. Besides writing content for our daily news feed, she is also working as staff writer/editor with Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.