Twitter restricts Crypto-related advertisement following the initiative of Google and Facebook. Reportedly, Twitter representatives stated that the ban will cover advertising for Initial Coin Offerings (ICO) and token sales. In addition, the policy will be effective during the next 30 days.
27 March, AtoZForex – Twitter Inc. has confirmed the rumors about its intentions to restrict cryptocurrency advertising. In fact, the Twitter cryptocurrency advertising limitations have been announced Tuesday, according to the media reports.
Twitter restricts Crypto-Related Advertisement
It appears that Twitter decided to follow two other Internet giants, Facebook and Google, in their initiative to get a hold of the cryptocurrency advertising. Reportedly, Twitter representatives stated that the ban will cover advertising for Initial Coin Offerings (ICO) and token sales. In addition, the policy will be effective during the next 30 days.
It is also known that the Twitter cryptocurrency advertising ban will include limitations on cryptocurrency exchanges and wallet services unless they are public companies and are listed on major stock exchanges.
Twitter has stated that it intends to limit advertisement for cryptocurrency exchanges in Japan to only those, who are registered with the Japanese financial regulator.
The social media giant refers to the safety of users as the key reason behind the decision. Twitter was already implementing some of the measures to prevent cryptocurrency related accounts from “engaging with others in a deceptive manner”. However, the company has received calls for stricter measures following the bans from Facebook Inc and Alphabet Inc (Google).
Facebook and Google Crypto Ad Bans
Earlier this year, Google has clarified that the advertisement ban will be on Binary options, Cryptocurrencies and related content like initial coin offerings (ICOs), cryptocurrency exchanges, cryptocurrency trading advice and cryptocurrency wallets. However, it will not be limited to this list, since Google will keep on monitoring the markets for more “Cryptocurrency related content and ads”.
Following on this, this January, Facebook has informed the public it has made a decision to ban all ads that aim to promote ICOs and cryptocurrencies. According to the Product Management Director of Facebook, Rob Leathern, the new Facebook policy bans ads that specifically promote the types of services and products “that are frequently associated with misleading or deceptive practices.”
According to Mr. Leathern, Facebook wants the public to“to continue to discover and learn” about those products and services, “there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith.”
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