Twitter joins Facebook and Google in banning cryptocurrency ads

Twitter will begin banning cryptocurrency advertising in an effort to discourage fraud and scams on its platform.

It joins Facebook and Google, both of which banned cryptocurrency ads earlier this year. Twitter plans to ban both Initial Coin Offerings as well cryptocurrency token sales.

"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," a Twitter spokesperson told CNBC. "Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally.”

According to Reuters, the new policy from Twitter - which will be rolled out over the next 30 days - will “also ban ads by cryptocurrency exchanges and wallet services, unless they are public companies listed on certain major stock markets.”

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