Twitter moves to ban cryptocurrency ads

Tyrone Stewart

TwitterTwitter is set to become the latest major internet player to make a move toward prohibiting cryptocurrency advertising on its platform, as it joins the likes of Facebook and Google in attempting to protect users from scams.

The company told Reuters that the ban would cover the advertising of initial coin offerings (ICOs) and token sales, as well as cryptocurrency exchanges and cryptocurrency wallet exchanges, unless they are public companies listed on certain major stock markets. Although, in Japan, companies given exemption will be limited to exchanges regulated by the nation’s financial regulator.

The microblogging site says the ban will be rolled out over the next 30 days.

The move comes after Twitter said it would take measure to prevent crypto-related accounts from being deceptive to users, but has since decided to follow in the footsteps of both Facebook and Google.

Facebook started banning crypto ads back in January, while Google will begin implementing changes in June.