Twitter to ban cryptocurrency advertisements from March 28

Twitter moves to ban crypto ads		
		
	Natasha Lomas

       @	   
   	8 hours

Twitter moves to ban crypto ads Natasha Lomas @ 8 hours

Micro blogging site Twitter Inc is set to ban some cryptocurrencies advert on its platform, according to a statement it released on Monday. The news follows similar moves from other internet giants Google and Facebook.

The new Twitter policy will come into effect as of March 27th, 2018 and will see cryptocurrency related ads included on Twitter's list of restricted financial services.

While critics call cryptocurrencies a Ponzi scheme that will end in tears for most investors, supporters say the coins are backed by powerful new technology that can replace traditional fiat currencies and upend the existing banking system.

Social media platform Twitter is to start banning cryptocurrency advertisements from tomorrow.

Today, Twitter announced that it will be joining the likes of Facebook and Google in banning advertisements for initial coin offerings (ICO) and token sales.

Last week it was reported by EthereumWorldNews, that Twitter was planning on banning advertisements related to digital currencies, ICOs, and token sales.

Google was next, announcing the decision to ban all crypto-related ads earlier this month.

Bitcoin fell roughly 7 percent Monday to below $8,000 following weeks of regulatory uncertainty and advertising crackdowns by tech companies.

Amidst reports of misuse of consumer data, a powerful Congressional committee has summoned the CEOs of top three social media platforms: Mark Zuckerberg of Facebook, Indian-American Sunder Pichai of Google, and Jack Dorsey of Twitter for a hearing on data privacy. It's also an important source of news and whisperings. "If we value civic discourse and fair elections, they have to step up and answer to more than their shareholders", he said.

However, some crypto experts such as Brian Kelly, the founder and CEO of BKCM, are convinced that the news is not significant and that the crypto market will not be hurt.

Since reaching a peak of nearly $20,000 in mid-December at the height of the cryptocurrency frenzy, Bitcoin has lost more than half of its value as investors weigh the future of the nascent industry amid intensifying scrutiny.

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