Twitter is planning to ban cryptocurrency ads

[Polycount]

The cryptocurrency market has always been volatile. Indeed, prices for Bitcoin alone have shifted drastically over the past several months. However, it isn't volatility alone that has certain tech companies concerned - there are other dangers the market possesses, particularly for the uninformed.

Cryptocurrency scams are not unheard of and initial coin offerings (ICOs) come with their own risks as well. As a result of these issues, earlier this month we reported Twitter was considering taking measures to limit or ban cryptocurrency ads to protect users from being exposed to potentially-shady ICOs or crypto scams in general.

Details were scarce at the time but it wouldn't have been an unprecedented move on Twitter's part - Facebook and Google had already made similar decisions.

Now, however, those reports have been confirmed. In statements to Reuters, Twitter confirmed their intentions to begin banning cryptocurrency advertising from their platform starting Tuesday. This new policy will reportedly cover ICO and token sale ads initially but the rules will be expanded over the next 30 days to cover ads for crypto exchanges, wallets and more.

Permalink to story.

https://www.techspot.com/news/73877-twitter-reportedly-banning-cryptocurrency-ads.html

 

[hqxt1964]

With the increasing number of ICOs coming to market, it is an impossible task for anyone, much less platforms like Twitter or Facebook, to keep on top of which ICOs and cryptocurrencies are genuine versus frauds… Although certainly ICO advertising must have been a significant source of revenue for Twitter, the repercussions of fraudulent activities just weren’t worth the risk.

 

[davislane1]

With the increasing number of ICOs coming to market, it is an impossible task for anyone, much less platforms like Twitter or Facebook, to keep on top of which ICOs and cryptocurrencies are genuine versus frauds… Although certainly ICO advertising must have been a significant source of revenue for Twitter, the repercussions of fraudulent activities just weren’t worth the risk.

Bingo. "Crypto advertising" is almost always ICO spam. Little upside for Twitter in the long run.