Twitter is planning to follow the footsteps of Google and Facebook and will reportedly also ban ads promoting initial coin offerings (ICO) and cryptocurrency.
According to Sky News’ sources, this policy will go into effect in the coming two weeks and would involve a ban on ads featuring initial coin offerings, token sales, and cryptocurrency wallets. The social media may also ban ads for cryptocurrency exchanges with some limited exceptions.
The cryptocurrency scams are making rounds on different platforms on the internet. Last month, a bitcoin scam duped hundreds of Twitter users to collect thousands of dollars worth cryptocurrency in the new bitcoin scam in less than a week.
With the ban on cryptocurrency ads on Facebook and Google, Twitter is the last major place where people may be fooled into making a wrong investment and losing their money to fraudsters.
The cryptocurrency bubble has taken the world by storm which has led to the increasing scams especially the introduction of new cryptocurrencies where the supposed founders after raising the money, disappear from the digital space.
While the people are still waiting for regulations for the crypto market that is becoming a wild frontier, the tech giants are apparently not going to ait to ensure the security of their users.