After Facebook and Google, leading microblogging platform, Twitter, is now considering to ban Bitcoin and cryptocurrency-related ads.
Twitter’s new advertising policy will be implemented in two weeks. The policy will prohibit advertisements of initial coin offerings (ICOs), token sales and cryptocurrency-related ads on the microblogging platform globally, reports Sky News.
The move is in line with what other social media platforms Google and Facebook have announced recently. However, it is also to be noted that Twitter co-founder Jack Dorsey, who took over the reins after Dick Costolo in 2015 amid allegations over Costolo failing to stop the hate and fake tweets, is also the CEO of Square, a cash payment app which has recently added Bitcoin trading to its platform.
Jack had then tweeted, “Instant buying (and selling, if you don’t want to hold) of Bitcoin is now available to most Cash App customers. We support Bitcoin because we see it as a long-term path towards greater financial access for all. This is a small step.”
However, Evan Williams, one of the most impactful and successful startuppers, founder of leading internet platforms such as blogger, Twitter and Medium, appeared agnostic about Bitcoin, shared Nik Custodia’s Medium blog, “Worked for me: Explain Bitcoin, Like I’m Five by @nik5ter”
Twitter hasn’t officially confirmed the development yet. Inc42 has contacted Twitter Ads team in this regard and any development further shall be updated, as it comes.
Earlier this month, search engine giant Google, a $809 Bn company (Alphabet), had announced to introduce a new restricted financial products policy prohibiting cryptocurrency-related ads including ICOs from all of its platforms. The policy is supposed to go into effect from June 2018 onwards.