Unconfirmed Report: Twitter To Ban Crypto-Related Ads In Response To Regulation Concerns
Sky News has reported today, March 18, that Twitter is considering implementing a ban on cryptocurrency-related advertising in two weeks according to an as-of-yet unconfirmed report.
Twitter had not responded to a request for confirmation of the alleged crypto ad ban by press time.
Twitter’s reported crypto ad ban would come in the wake of both Facebook ban of crypto advertising in January, and Google’s recent update to its Financial Services policy that will ban crypto ads starting in June 2018.
Sky News writes that they “[understand] that the new advertising policy will be implemented in two weeks and currently stands to prohibit advertisements for Initial Coin Offerings (ICOs), token sales, and cryptocurrency wallets globally.”
Twitter has experienced an influx of fake accounts pretending to advertise cryptocurrency giveaways, often by users posing as famous crypto sphere personas like Litecoin’s Charlie Lee.