Twitter to Ban ICO Ads Starting March 27

Twitter bans ICO ads

Twitter announced on March 26 that it will be banning all ICO-related ads from its social media platform, according to CNBC. This follows similar announcements from Google and Facebook.

A twitter representative told CNBC:

“We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency. […] Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally.”

According to founder and CEO of BKCM, Brian Kelly, the Twitter announcement is not a market mover like the Facebook and Google announcements were:

“There is not a discernible catalyst on either side of the market so we are just drifting lower. […] The biggest potential short-term catalyst is increased trading in South Korea as that government re-embraces crypto,” Kelly told CNBC.

Twitter is going in the same direction as its peers in the social media industry. Governments all over the world also want to regulate cryptocurrency. Countries such as the United States, Canada, the United Kingdom, Thailand and South Korea are all taking measures towards making the cryptocurrency market legal, but legislated.

 

 

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