Twitter bans Cryptocurrency ads

After Facebook and Google now it’s Twitter to ban ads on Initial offering of Cryptocurrency, said a source from twitter on Monday, causing a dip in the value of bitcoin surging below 8000$

“We are committed to ensuring the safety of our twitter community” Twitter said in a Statement

For that purpose a new policy has been added to regulate ads on twitter. The advertisement of initial currency offering will be prohibited at the global messaging platform

Advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally,” a Twitter spokesperson said in an emailed statement Monday. “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.”

These steps are necessary because Bitcoins are not regulated by any Government Body but it is controlled by a group of community. It can be used for criminal activities and it is very volatile in nature.

So to conclude,

Now only those company who are listed on major stock market will be allowed Cryptocurrency exchanges and for wallet service ad. In Japan this will be limited to Cryptocurrency exchange regulated by nation’s Financial services Agency, said twitter spokesperson

Post Author: Ketan

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