Twitter to Ban Cryptocurrency-Related Ads

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Like Google and Facebook, Twitter is considering implementing a ban on cryptocurrency-related advertisement, according to Sky News

In the beginning of March, Twitter announced that it was cracking down on cryptocurrency fraud. Facebook also took the decision to ban all cryptocurrency-related ads in January 2018. Google mentioned last week it will also prohibit cryptocurrency-related ads, starting in June 2018.

Twitter’s new advertising policy will be created in two weeks and will target initial coin offerings (ICOs), token sales, and cryptocurrency wallets.

In January 2018, Facebook qualified cryptocurrency-related products as “frequently associated with misleading or deceptive promotional activities”.

Two weeks ago, the governor of the Bank of England, Mark Carney mentioned that it was the time to “regulate elements of the crypto-asset ecosystem to combat illicit activities”.

He also added:

“We will talk about them at the G20 meeting and we are talking about them now in the Bank of England. The Financial Policy Committee is looking at the risks to financial stability […] There are issues for authorities who deal with money laundering, terrorist financing and price fixing. There have been a number of incidents of theft – not just big crimes but also steady thefts from people’s wallets.”

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