The famous and much used social network – Twitter is reportedly preparing to terminate and ban and ICO, Token Sale or cryptocurrency related advertisements.
Very similar to the latest moves that Google and Facebook have made, twitter is planning out to ban crypto-ads on its platform. The new policy is written down to go live in about two weeks as reported by Sky News without giving any more details or the source of the data and information.
Concluding from the other two digital giants, the new rule will ban initial coin offering ads, wallet-ads and token sale related ones. The reasoning behind Twitter’s decision is unclear. Other companies imposing restrictions on crypto content have cited concerns over illicit activities and fraudulent ads.
The released report, however, points out that there is a limited exception list in regard to trading exchanges. But as mentioned, no confirmation of the change is yet made.
The news is coming, as many would conclude, in a very bad time. The cryptocurrency ecosystem is already undergoing regulatory pressure and similar decisions made by Facebook and the biggest global search engine – Google. The announcements, as supported by many analysts, are impacting the prices and tanking them towards lower dips.
In January, Facebook rolled out its ban claiming that the development and decision came after many persistent complaints by its users about fraudulent crypto-ads and spam. More recently, Google announced its plans to restrict ads of cryptocurrencies and content related to initial coin offerings, exchanges, wallets, and crypto trading advice. The company intends to implement the new rules by June, 2018.