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Following past reports of a supposed ban, Twitter has declared that cryptocurrency and ICO-related commercials will be prohibited from its site from Tuesday.
Twitter has verified its new strategy in doing the same as Facebook and Google in forbidding commercials advancing cryptocurrencies and initial coin offerings (ICOs) from its stage. The boycott will likewise incorporate all promotions identified with cryptocurrency trades and wallet services, with a noteworthy special case stood to publicly listed organizations recorded on certain stock exchanges, Reuters reports.
The ban won’t apply to cryptocurrency trades enrolled and authorized to work by the Financial Services Agency (FSA), the nation’s financial controller.
A Twitter representative stated to CNBC:
“We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally.”
Twitter’s ban was first revealed by Sky News seven days back, recommending that the ban would happen sooner or later over the following two weeks after Twitter openly said it was taking measures in keeping crypto-related accounts from “engaging with others in a deceptive manner.” There has been a significant ascent of crypto-related scams on Twitter wherein con scammers have likewise gone so far as hijacking confirmed Twitter accounts to trap users into separating with their cryptocurrencies.
Twitter’s new arrangement is similar to Google and Facebook who have declared their own brakes on crypto-related promoting. Facebook added ads identified with ‘binary options, initial coin offerings, or cryptocurrency‘ under its ‘prohibited financial products and services‘ approach prior this year. Google, the world’s biggest internet promoting supplier, declared its own prohibition on crypto advertising which will become effective in June.
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