Twitter on Monday announced that cryptocurrency adverts would be banned from the site starting Tuesday, March 27, 2018. The company’s statement read that all advertisements associated with wallet services, exchanges, token sales and Initial Coin Offerings (ICOs) excluding public firms listed on big stock markets will be removed from the website.
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The Twitter spokesman said the move aims at ensuring the safety of the community as reported by CNBC. Following is the explanation of the social media giant.
“We have added another policy for Twitter Ads concerning cryptocurrency. Under the new policy, the advertisement of token sales and Initial Coin Offerings (ICOs) will be prohibited internationally."
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Hearsays of Twitter banning cryptocurrency ads surfaced earlier this month for the first time when Sky News gave a report that that kind of content would be blocked from the platform as reported previously.
Jack Dorsey, Twitter CEO had previously acknowledged the propagation of cryptocurrency scam accounts and pledged to crack down on bot accounts or users who illegally sought digital currencies from other people. Nonetheless, some of the site’s reaction resulted in affecting users who are not involved in the scam, for instance, Brooke Maller, aka @bitcoinmom and crypto exchange Kraken's support channels.
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STOP@steemitboard Thanks i will do.
Twitter coming be facebook issue
@andrianhabibi Yah, it's going the facebook way.
When will all this end! This animosity against the cryptoworld is disheartening, we are about to experience another bottom crash in the market! Oh why!!!!😭😭😫😫😫
@pandygirl Twitter seems to copy the other internet giants. But nothing to worry. Other big companies such as Dell and Microsoft have already incorporated crypto as a way of payment. The future is bright.