Originally published: March 20th
Updated: March 26th
According to Sky News, Twitter may be following in the footsteps of Facebook and Google by banning crypto-related ads.
The rumors have circulated for a few days now and as of yet, Twitter still hasn’t confirmed or denied this. If this does happen, the ban will likely be similar to that of Facebook and Google’s – the ban will likely include advertisements for ICOs, token sales, crypto wallets and may also be banning certain ads for crypto exchanges.
The supposed date set for this crypto ad ban is two weeks from now.
Unlike when Google announced its crypto ad ban, the rumours of the Twitter ban don’t seem to be having any adverse effects on the crypto market. Most coins are up at the moment and a general crypto recovery started at the beginning of this week. However, this may be because the Twitter rumors are still only rumors, whereas Google’s ban was confirmed.
What will this mean moving forward?
Some might consider the crypto ad bans a positive progression for the crypto community. It could help to wean out scams, which can be especially prevalent on Twitter.
Others, however, are furious about the crypto ad ban. For example, a man in Russia has started a lawsuit against the Google ban, claiming that he is “missing business opportunities and possibly losing money” because of it. (This man was intending to start an ICO in June, the same month the Google crypto ad ban is set to begin.)
What do you think about companies like Facebook and Google banning crypto ads? Do you agree? Comment below if you think this is the right direction for crypto.
Twitter has now officially announced that it will be banning crypto ads on its platform. The aim, much like Facebook and Google’s ban, is to help protect investors against fraud.
Much of the crypto market is down right now, with Bitcoin dropping below $8,000.
What does this mean for the crypto sphere? Share your thoughts below.
Featured image: cryptocynews