Twitter to ban Cryptocurrency ads on its Platform


twitter-may-join-crypto-ad-ban-rally
Source - Google
Twitter could be the next major Internet company to ban crypto-related ads, according to reports that surfaced Sunday.
According to Sky News, Twitter will revamp its advertising policy so that those for ICOs, token sales, and cryptocurrency wallets will no longer be allowed. The new policy could take effect in as few as two weeks.
Twitter’s ban on Crypto-related ads follows another ban by Facebook in January, and Google’s recent update, that they will ban crypto ads beginning June this year. Twitter’s prohibition could start in two weeks and is meant to prevent token sales, initial coin offerings (ICOs) and cryptocurrency wallets advertisement.
Both Google and Facebook also banned ads for binary options trading, after a release from the action fraud figures showed that victims had lost 400,000% in six years.
As the news went viral, Bitcoin’s price continued to slide. At the beginning of the weekend on Friday, its price was about $8,500. At the time of writing (New York time), it was hovering around $7,500.

Who’s who of the crypto ad bans

If Twitter does ban crypto-related ads, the action would follow that of its much larger social media competitor Facebook. In January, Facebook announced that it was banning crypto-related ads, including ICOs.
Google stated last week that it would no longer allow for advertising for cryptocurrencies and related content. Specifically, Google’s advertising change also applies to ICOs and crypto wallets, but also to cryptocurrency exchanges, and services related to providing crypto trading advice.
Its halt is scheduled to not begin until June and is part of a sweeping crackdown on high-risk and unregulated financial products, we reported last week.

Fighting back

There appears to be at least one crypto player who is fighting back against these bans. In Russia, Tribetica.com is reporting that a lawsuit has been filed against Google.
Vladimir Orehov is reportedly demanding to be compensated after claiming the ban will deprive him of opportunities to invest in crypto projects and find investors to fund his own business initiatives. 
Bolbhai

Bolbhai

I have been a developer for last five years working experience in different technology, apart from this I loved traveling, blogging and exploring the crypto world.

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