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CRYPTO ADVERTs BAN.........Twitter Confirms Total Ban On Cryptocurrency Ads

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Twitter announced Monday that cryptocurrency advertisements would be banned from the website starting Tuesday.

All ads related to initial coin offerings (ICOs), token sales, exchanges and wallet services - excluding public companies listed on major stock markets - will be removed from the site, according to the announcement. A spokesperson said the move is aimed at "ensuring the safety of the Twitter community," according to CNBC.

The social media giant explained:

"We have added a new policy for Twitter Ads relating to a cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally."

Rumors that Twitter would ban cryptocurrency ads first surfaced earlier this month when Sky News reported that such content would be barred from the platform within the next two weeks, as previously reported.

A Twitter spokesperson declined to comment on the report when asked by CoinDesk at the time.

Twitter CEO Jack Dorsey has previously acknowledged the proliferation of cryptocurrency scam accounts, pledging to crack down on users or bot accounts seeking cryptocurrencies from others.

“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.”

Facebook restricted crypto advertising in January of this year, while Google announced a ban earlier this month that will be enacted in June 2018.


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