Twitter to follow Google and Facebook in banning bitcoin ads

Twitter to follow Google and Facebook in banning bitcoin ads

Sky News also reported that Twitter is considering the possibility of banning advertisements for cryptocurrency exchanges, with some limited exceptions.

Fortune has reached out to Twitter for confirmation of Sky's report.

Twitter hasn't officially confirmed the development yet. But earlier this month, Twitter CEO Jack Dorsey wrote that the company was "on it" when cryptocurrency watcher Emin G?n Sirer highlighted the prevalence of cryptocurrency "scams" on the site. The policy is supposed to go into effect from June 2018 onwards.

Following suit of tech giants Google and social networking platform Facebook, Twitter is now mulling over banning Cryptocurrency, Initial coin offerings (ICO), and token sales advertisements on its platform.

On Wednesday, Alphabet Inc's Google announced a ban cryptocurrency-related advertising in a move that would cut off promotions for initial coin offerings and exchanges amid growing concerns about scams.

"Improving the ads experience across the web, whether that's removing harmful ads or intrusive ads, will continue to be a top priority for us", said Scott Spencer, director of sustainable ads at Google, on the company's official blog, The Keyword.

Facebook called this an effort by the company to prevent people from advertising "financial products and services frequently associated with misleading or deceptive promotional practices".

Facebook axed virtual currency adverts from its site in January, the site says, while chat forum Reddit has also made a decision to introduce similar advertising guidelines.

In 2017, Google took down more than 3.2 billion ads that violated its advertising policies.

With over 300 Mn users, the microblogging platform Twitter is also appeared to have following the same design thinking for advertisement policies.

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