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Twitter follows Google and Facebook, bans cryptocurrency and ICO ads

Twitter

Twitter has said that it will ban advertisements that promote cryptocurrencies and initial coin offerings (ICOs) starting from Tuesday. The move follows other social media platforms like Facebook and Google, which have already banned cryptocurrency ads. “Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally,” the company told the media in a statement. “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.” Google and Facebook have done the same Twitter’s move mirrors actions implemented by Facebook and Google, the two giants in the web advertising domain. Facebook had banned advertising of cryptocurrencies on its platforms in January, saying that these are “financial products and services that are frequently associated with misleading or deceptive promotional practices”. The ban included offerings like binary options, initial coin offerings and cryptocurrency. Ads that violate the company’s new policy will be banned on Facebook’s core app, but also in other places where Facebook sells ads, including Instagram and its ad network, Audience Network, which places ads on third-party apps. Google had said earlier this month that it will ban advertisements that promote cryptocurrencies and initial coin offerings (ICOs) starting from June. According to the company, the move is part of an update to its policy, which will also ban other risky financial products. The policy…

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Writes about consumer technology, social media, digital services and tech policy. Is a gadget freak, gamer and Star Wars nerd.

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