In the end, rumors were justified and Twitter began to prohibit advertising related to the cryptocurrency, on its platform.
On Tuesday, the application was the last social network to limit advertising, which contributed to potential fraud or caused large losses of investors in the long term, reports Reuters. The new policy will cover advertising of primary offers of coins (ICOs) and sales of tokens, as well as advertising actions of cryptocurrency exchanges and cryptocurrency wallets that are not placed on known stock markets.
IN JAPAN, ADVERTISING ANNOUNCEMENTS OF CRYPTO EXCHANGES NOT RECOGNIZED BY THE FINANCIAL SERVICES AGENCY (FSA), WILL BE PROHIBITED ON THE TWITTER, THE COMPANY REPORTED
Twitter confirmed the policy change by making the following statement: “We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally.”
“We will continue to improve upon this policy as the industry evolves,” she added, noting her restricted content policies.
A company spokesman also said that he plans to update the page with the advertising rules within the next hour. At the time of writing, the last page was updated on August 30, 2017.
This was expected
Since then, Twitter has faced criticism for hosting cryptographic ads on its platform at a time when regulators around the world have expressed concern about fraud and the risks associated with crypto-currencies.
TWITTER TAKES ACTION TO PREVENT CRYPTO ATTACKS WITH USING ITS PLATFORM AND THEREFORE THE ACTION OF THE COMPANY IS POSSIBLE TO UNDERSTAND
And it is clear that over time, the rules will be revised together with the development of this industry
And at the same time, when ICO advertisements and tokens will be banned all over the world,
REMAINS PLACE FOR EXCHANGE AND PURSES WHICH RECOGNIZED BY PUBLIC COMPANY AND LISTED ON KNOWN STOCK MARKETS
They will be allowed to buy ads on Twitter.
In certain places, additional restrictions may apply, for example, as in Japan, these exchanges should be regulated by the FSA in order to be able to buy advertising.