Twitter Inc. is joining Facebook and Google in banning advertisements for initial coin offerings and token sales on its social-media platform.
“Advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally,” a Twitter spokesperson said in an emailed statement Monday. “We know that this type of content is often associated with deception and fraud, both organic and paid, and are proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner.”
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.
The decision comes after Facebook Inc. banned cryptocurrency ads in January and Alphabet Inc.’s Google said it would ban such ads starting in June, as part of a broader effort to crack down on deceptive and misleading advertising on their platforms. Social-media platforms are keeping cryptos away as regulators cast an increasingly wary eye on the sector globally.
Read more: Bloomberg