Twitter will also ban cryptocurrency ads

The fence around the cryptocurrencies grows. If a few weeks ago Facebook and Google banned the cryptocurrency ads on their platforms, in fifteen days Twitter will join this ban.

As announced by Sky News, Twitter is finalizing an update of its use policy that will be ready in just two weeks. In it, Twitter plans to prohibit cryptocurrency announcements related to new initial acquisition offers (ICOs), coin sales and cryptocurrency software. The popular social network could also ban ads from cryptocurrency platforms, but apparently in this case it could make some exceptions.

The reasons for Twitter to prohibit the advertising of Bitcoin and other cryptocurrencies are the same as those already used by Facebook and Google, which already prohibit this type of advertising: excessive fraud, and high risk for its users.

Currently there are hundreds of cryptocurrencies and most are presented in partnership with an ICO, an initial acquisition offer with which you buy a certain amount of that new currency, and the money collected is used to start the mining. The problem is that many of these ICOs are directly a fraud, and others have not obtained the necessary financing. In fact, more than half of the new cryptocurrencies of 2017 were a failure.