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The Silicon Review Asia

Now twitter to ban cryptocurrency ads, following Google’s action

Now twitter to ban cryptocurrency ads, following Google’s action

A week after Google announced its ban on ads related crypto-currencies ,twitter has also come to the decision of banning ads related to crypto-currencies and initial coin offerings (ICOs).

The ban on cryptocurrency related ads is spreading like wildfire throughout the social media platform starting from Facebook, to Google and now Twitter. The aim of these bans is to get rid of the belief from the user’s mind that these platforms host deceptive ads that ultimately lead to scamming the user.              

We updated several policies to address ads in unregulated or speculative financial products like binary options, cryptocurrency, foreign exchange markets and contracts for difference (or CFDs)”, Scott Spencer, Google’s Director of Sustainable Ads, said in a blog post.

Google removed around 3.2 billion ads that violated its advertising policies, along with blocking around 79 million ads that were malware related in the year 2017. This January, Facebook banned every ad that promoted cryptocurrencies, including bitcoin and ICOs. “The new policy prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices”, Facebook said in a statement.

Whether or not this ban on the ads of cryptocurrencies will affect the actual value of the cryptocurrencies is still a critical question that remains unanswered for now. Individuals who have already invested in these currencies are now kept in a dilemma.   

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