Twitter joins Facebook, Google in banning crypto sale ads

Facebook CEO Mark Zuckerberg

Following in the footsteps of Google and Facebook, Twitter Inc will enforce a ban on cryptocurrency advertisings in a move to help protect investors from fraud.

The ban will roll out Tuesday, and become fully enforceable for all advertisers within a month.

Under the new policy, the advertisement of ICOs, or initial currency offerings, and token sales will be prohibited at the global one-to-many messaging platform.

Cryptocurrency exchanges and wallet services ads will be limited to those that are provided by a public company listed on major stock markets, and in Japan, these will be limited to crypto exchanges regulated by the nation's Financial Services Agency, the Twitter spokesperson said. Bitcoin is sliding 6 percent today, approaching the $8,000 level, and is down more than 50 percent from an all time high of nearly $20,000 in December. "We will continue to iterate and improve upon this policy as the industry evolves".

Protests and strikes across France disrupt travel
With air-traffic controllers walking out, 30 percent of all flights arriving or departing from Paris airports will be cancelled. Opinion polls indicate that though a majority of voters backed Thursday's strike , an even bigger majority support the reforms.

Facebook has restricted crypto-related adverts, while Google earlier in March announced a ban that comes into force in June.

Last week it was reported by EthereumWorldNews, that Twitter was planning on banning advertisements related to digital currencies, ICOs, and token sales. When we take all of these bans together, it certainly seems like Twitter is about to purge the majority of cryptocurrency advertising from its platform. Reddit, Google and Facebook have already blocked such advertisements.

Of course, another major reason behind the banning of cryptocurrency ads is that of liability.

Bitcoin (BTC) was down around 8% following the news, according to Coincompare, dipping back below the $8,000 dollar mark after a brief spike overnight (UK) had sent it up over the $8,100 mark. There has been a considerable rise of crypto-related scams on Twitter wherein scammers have also gone so far as hijacking verified Twitter accounts to trick users into parting with their cryptocurrencies. However, if significant regulatory action is taken by the USA, the major cryptocurrencies could see a dramatic market decline.

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