Twitter Confirms Crypto Ad Ban Starts Today

Published on 27 March 2018 by Cryptovest Staff

Speaking to CNBC on Monday, a Twitter spokesperson stated:

“We know that this type of content is often associated with deception and fraud, both organic and paid, and are proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner.”

In prohibiting ICO and token sale-related ads, Twitter joins Facebook and Google, who have also introduced bans on crypto-related ads.

However, Twitter is no stranger to the dark side of the crypto-world – while the platform has been popular among crypto enthusiasts, it has also been used to perpetrate a number of crypto-related scams. Earlier this month the company confirmed that it was working on protecting its users from deceptive schemes, and CEO Jack Dorsey made a similar commitment.

While they have proven to be an exceptionally popular new method of crowdfunding, incidents such as the recent Giza scam have tainted the reputation of ICOs. Countries such as China have banned ICOs altogether, while regulatory bodies worldwide have repeatedly issued warnings, urging investors to be cautious when it comes to putting money into ICOs.