Twitter may ban cryptocurrency ads

Twitter will likely ban ads for ICOs, wallets and exchanges -- with some exceptions.

Twitter will soon ban several types of cryptocurrency ads on its platform, Sky News reportedSunday.

The ban, that is slated to go live in two weeks, will be global and it will prohibit ads for initial coin offerings (ICOs) and cryptocurrency wallets. Twitter might also ban ads for cryptocurrency exchanges — with some “limited exceptions,” the report claims.

If the report is accurate, it would mean Twitter is following in the footsteps of Facebook and Google. Both companies have recently banned all cryptocurrency ads on their respective platforms — though Google’s ban goes into full effect in June this year.

Twitter has had its share of trouble with cryptocurrency-related spam. A particularly sordid example is the slew of fake accounts which promise free Ethereum while impersonating Ethereum co-founder Vitalik Buterin. This has gotten so bad that Buterin changed his Twitter name to “Vitalik “Not giving away ETH” Buterin” and started adding disclaimers, stating he’s not giving away Ethereum, at the bottom of his posts on the platform.

Twitter previously said it’s implementing measures to stifle these types of scams.

We’ve pinged Twitter for comment and will update the article when we hear from them.

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