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Twitter likely to ban cryptocurrency ads
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Top Stories |
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IANS | 19 Mar, 2018
After Facebook and Google,
Twitter was now likely to ban cryptocurrency, token sales and Initial
Coin Offerings (ICO) advertisements on its platform.
According to a Sky News report on Monday, the new Twitter policy will be implemented in two weeks.
"Twitter
may also ban all ads for cryptocurrency exchanges, with some limited
exceptions, when the policy is launched," the report added.
Google
last week announced that it will ban advertisements for
cryptocurrencies and other "speculative financial products" across its
ad platforms.
The ban on such advertisements will come into force from June.
"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.
"In
June 2018, Google will update the financial services policy to restrict
the advertisement of contracts for difference, rolling spot forex and
financial spread betting," Google said.
In 2017, Google took down more than 3.2 billion ads that violated its advertising policies.
Google
also blocked 79 million ads in its network for attempting to send
people to malware-laden sites and removed 400,000 of these unsafe sites
last year.
In January, social media giant Facebook banned all ads promoting 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.
"We want people to
continue to discover and learn about new products and services through
Facebook ads without fear of scams or deception.
"That said,
there are many companies who are advertising binary options, ICOs and
cryptocurrencies that are not currently operating in good faith," said
Rob Leathern, Product Management Director at Facebook.
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