Due to increasing a significant amount of crypto-related scams on Twitter platform, no cryptocurrency and ICO advertisements will be displayed from Tuesday. Facebook has already prohibited advertisements related to cryptocurrency, ICO and binary options. They put all these types of advertisements under ‘prohibited financial products and services’ policy at the starting of this year. Google has also announced the ban on crypto advertising which will be implemented in June.
This ban will not only affect crypto advertising, but also rule on cryptocurrency exchanges and wallet services except some companies that are publicly indexed on certain large stock markets. Registered exchanges and firms licensed by the Financial Services Agency (FSA) are excluded from this ban.
Twitter said the ban is implemented to check crypto-related users from hacking verified Twitter users.
A Twitter spokesperson explained in statements to CNBC:
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. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally.
Source: https://www.ccn.com/twitter-bans-cryptocurrency-ico-advertising-starting-today/