[Et tu, Twitter?] – Twitter may ban Crypto Ads
Twitter may be preparing to ban cryptocurrency and ICO related advertising. The new policy change is said to be announced and enforced in the next couple of weeks. The site is set to ban these ads with a few exceptions and has gone one step further than its competitors in that it will ban cryptocurrency exchange advertising as well.
Like Google and Facebook, Twitter too is following suit with respect to the cryptocurrency and ICO advertising ban policy. The microblogging site is said to stop all cryptocurrency related advertising and ICO watches with a few exceptions. This new policy change was reported by Sky News with no mention of the source and no official statement has been made by Twitter officials.
Twitter’s change in ad policy is likely to ban advertising for cryptocurrency exchanges, token sales, ICOs and cryptocurrency wallets. The rationale behind the decision, however, remains unclear, but other companies that have taken similar steps expressed concern over illicit activities surrounding the market and the high number of fraudulent ads.
The announcement is yet to come from any officials but the company is said to have made some exceptions and ‘limited’ allowances for some platforms.
The expected ban from Twitter comes at a time when a lot of other platforms are banning the advertising of the cryptocurrency market and cogs that are essential to it. It was only in January that social networking giant Facebook called for a complete ban on all cryptocurrency advertising stating complaints from members of the community about fraudulent advertising and Ponzi schemes. More recently, the Google advertising ban was announced just this week, too. Citing similar reasons.
While it is the company’s prerogative whether or not to allow a certain kind of advertising on their websites, it comes as a huge hit to the crypto market because these policies essentially lock them out of the biggest social media network and the largest search engine of the world wide web. With Twitter, allegedly, following suit the crypto marketers will need to find other avenues for advertising their ICOs and products.
Many experts and analyst believe that the tanking of the crypto market is directly related to the change of the policy from these internet giants and that it will take awhile for the effect of them to cancel out.
With Google, Facebook and now, allegedly, Twitter banning cryptocurrency market and cryptocurrency related ads, it locks the market out of the mainstream internet and forces them to look for new avenues of advertising. Although many people believe that aggressive businesses will find and pave a way around the new policies, the fact remains that the crypto market is not allowed to advertise using the mainstream channels.
All eyes are on Twitter now, as no official comment has been made neither to accept nor to deny the claims of an impending cryptocurrency and ICO advertising ban.