Twitter to ban crypto related ads?
Reports from Sky news suggest that twitter will follow the lines of Facebook and Google to ban ads related to cryptocurrencies.
According to Sky news:
Twitter is preparing to prohibit a range of cryptocurrency advertisements amid looming regulatory intervention in the sector.
Although there has been no official release from Twitter regarding this Sky news reports that a new advertising and currently stands to advertisements for initial coin offerings (ICOs), token sales, and cryptocurrency wallets globally.
Twitter may also ban all ads for cryptocurrency exchanges, with some limited exceptions, when the policy is launched.
Facebook was the first to ban all cryptocurrency related ads which was followed by Tech giant Google on wednesday.The crackdown from Facebook and Google has put Twitter in an awkward situation and is under pressure at the moment.
At twitter , the big decisions will depend on the CEO Jack Dorsey who is also the CEO of Square which recently invested in lightning network (which is working to solve the scalability of cryptocurrencies) and began to offer Bitcoin trading.This has put Dorsey in an even more awkward position between promoting Square’s Bitcoin products or Twitter’s commitment to civility.
We have seen a lot of scam accounts and bots on Twitter impersonating personalities like Vitalik Buterin(Read about it Here), Charlie Lee and also Elon Musk to scam people. Twitter also promised to take action and banned many accounts including the support team for cryptocurrency exchange Kraken.
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