Twitter Bans ICO Ads and Considers Tabooing Ads of Crypto Exchanges

Twitter Bans ICO Ads and Considers Tabooing Ads of Crypto Exchanges

Following the lead of such tech titans as Google and Facebook, another social networking service officially confirmed it bans cyber assets-related advertisements.

The taboo comes into force on March 27 as Twitter leadership is reluctant to exposing its clients to content which potentially can be fraudulent.

Crackdown Continues

Twitter confirmed its decision to prohibit crypto advertising to Reuters the day before the ban is to become effective. In particular, Twitter is taking a hardline stance on various ICOs as well as token sales.

However, that’s not all. In the frames of the following month, the details on the taboo will be announced, and they will also refer to such digital assets-related phenomena as:

  • cyber money bourses
  • virtual coins wallets

But that’s if they are not registered as public companies and are taken into account by a considerable stock venue.

By the way, the situation is going to be slightly different in the land of the rising sun – Japan. There, Twitter will restrict that to cyber money trading venues which are under control of the Japanese official financial regulator.

Why Should Twitter Do That?

Twitter is doing what other popular online services have already started doing. And the reason for that, according to the company’s announcement, lies in its desire to safeguard its users.

It is not the first time this massive social media company expresses its concerns over cryptos. For instance, earlier Twitter started taking steps to withstand accounts through which some people were trying to dupe its users. Nevertheless, that seems to be not enough after Facebook and Google commenced a harder crackdown on potentially scamming ads.

ICO ads were bringing a lot of income to Twitter, but all that was not worth jeopardizing own users. Interestingly, after the notification, the whole crypto market saw a continuing fall, which started a few days before that.