This week, Twitter has joined other major online platforms, including Google and Facebook, in banning all advertisement related to Cryptocurrencies and Initial Coin Offerings (ICOs). Only the last week, Sky News reported such expected ban after the presence of a number of scam-accounts related to cryptocurrency trading were blocked by Twitter. Licensed and registered crypto-currency exchanges do not fall under this ban. Some of these scams even resulted in the hacking of verified Twitter accounts.
While commenting on this ban, a Twitter spokesperson commented yesterday that the ban was implemented as the social media platform wanted to ensure the safety of its online community. The spokesperson further made clear that crypto exchanges, wallet services, and token sales have also been prohibited under this ban. The only exception is related to publicly listed companies.
It is to be noted here that Facebook announced its strategy to proliferate cryptocurrency advertisement earlier this year and Google is also going to implement the same ban from June of this year. Similarly, most other social media and online platforms are expected to follow the suit.