Published: Thu, March 29, 2018
Hi-Tech | By Wayne Curry

Twitter joins Facebook and Google in banning cryptocurrency adverts

Twitter joins Facebook and Google in banning cryptocurrency adverts

According to reports, a new policy has been added for Twitter to ensure the safety of users in the community. This was after Twitter said publicly that it was aiming to prevent crypto-related accounts from "engaging with others in a deceptive manner". As such, we have added a new policy for Twitter Ads relating to cryptocurrency...

After Google and Facebook ban on cryptocurrency now it's the twitter who officially banned the ads relevant to cryptocurrency. For Japan, advertisements governing banking, securities, foreign exchange, virtual currency exchange trading and insurance must be authorized by the Financial Services Agency.

Twitter has confirmed that it will begin blocking cryptocurrency-related ads on the platfrom from Tuesday, March 27 even as the micro-blogging site updated its policy relating to such advertisements.

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 on cryptocurrency ads will ideally stop scammers, but Twitter will allow some ads to appear as long as they're from a recognized or licensed institution.

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Banning cryptocurrency-related ads follows Facebook and Google's announcement that they would ban advertisements for cryptocurrencies and other "speculative financial products" across their ad platforms.

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

The price of bitcoin is down more than half to around $8,000 (over R93,200) from a December peak of nearly $20,000 as fears of a regulatory clampdown spooked investors.

Bitcoin has lost more than half its value from a December peak of nearly $20,000 as fears of a regulatory clampdown spooked investors.

Facebook got into this mess after it was revealed earlier this month that data had been harvested from over 50 million users by a psychology professor. Obviously, Twitter doesn't want to risk advertising potentially fraudulent ICOs on its very popular platform, so this ban certainly makes sense when you look it at that way.

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