The most popular social network – Twitter is now planning to put a ban on all cryptocurrency, Initial coin offerings , token sales and related advertisement or promotional activities , this will be a bad news for all those who are looking to run advertisements on Twitter, Sky News reported on Sunday about twitter “preparing to prohibit a range of cryptocurrency advertisements amid looming regulatory intervention in the sector.”
Further Sky news also suspected that “initial coin offerings (ICOs), token sales, and cryptocurrency wallets” would be rolled out globally in two weeks, and is likely to implement similar restrictions on advertising for exchanges with some exceptions.
After the recent decision by tech giant Google rolled out which banned cryptocurrency-related ads from appearing in its ad networks this week, and before Google, the social media giant Facebook which did the same in January as part of a crackdown on
cryptocurrency and related products that are frequently associated with misleading or deceptive promotional practices.
Another source such as Reddit has also implemented some rules against cryptocurrencies and token sales.
European Union and authorities have warned that regulation could be coming, and though US regulators are still stumbling over the issue, the pressure is growing on them to sort out whose responsibility enforcement in the crypto space should be. In the private sector, there’s also been some attempts to curb risky speculation by customers with widespread bans by major banks on using credit cards to make purchases on exchanges.
Google and Facebook already reportedly control nearly three-quarters of all US online advertising. Twitter’s ad share is a mere fraction of that, but with every major company that ditches on the market, the crypto world gets hedged in a little further.