Now Twitter is Reportedly Planning to Ban Cryptocurrency Ads
The most used social network Twitter updates that it is now reportedly preparing to terminate and ban and ICO, Token Sale or cryptocurrency related advertisements. Its is very similar to the latest moves that Google and Facebook have made twitter is planning out to ban crypto-ads on its platform.
According to the Sky News, Concluding from other two digital giants, the new rule will ban initial coin offering ads, wallet-ads and token sale related ones. The reasoning behind Twitter decision is unclear. However the other companies imposing restrictions on crypto content have cited concerns over illicit activities and fraudulent ads.
The Company Intends to Implement New Rules by June, 2018
Meanwhile the report released that point out there is a limited exception list in regard to trading exchanges, but as mentioned, no confirmation of the change is yet made.
Twitter updates that the cryptocurrency ecosystem is already undergoing regulatory pressure and similar decisions made by Facebook and biggest global search engine Google. The announcements as supported by many analysts are impacting the prices and tanking them towards lower dips.
Recently 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. Although Google announced its plans to restrict ads of cryptocurrencies and content related to initial coin offerings, exchanges, wallets, and crypto trading advice.
This isn’t the first set of steps that Twitter has taken to stop deceptive cryptocurrency scams. It says that it will start taking down accounts that ask for small amounts of a cryptocurrency while impersonating celebrities.