Twitter Confirms Crypto Ad Ban Starts Today

What Clampdown?       Initial coin offering funding is soaring even as regulators tighten grasp              Source Coin Desk

What Clampdown? Initial coin offering funding is soaring even as regulators tighten grasp Source Coin Desk

Twitter, Google and Facebook are taking a stance against cryptocurrency ads, but research suggests that the ad bans of social media platforms may not have a large effect on token sites.

Twitter said it had already been trying to prevent cryptocurrency accounts from "engaging with others in a deceptive manner", but the restrictions from Facebook and Google prompted it to do the same. Twitter also confirmed the news to Verge, that the policy will be fully enforceable among all the advertisers within a month. Token sales and ICOs will be blocked, but cryptocurrency wallets and exchanges will be limited to only public companies that are listed on major stock markets.

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Bitcoin dropped by 5% to record $7,989 while Ethereum lost 10.4% of its value reaching $459 following Twitter's revelation about a ban on cryptocurrency ads. "We will continue to iterate and improve upon this policy as the industry evolves". For Japan, advertisements governing banking, securities, foreign exchange, virtual currency exchange trading and insurance must be authorized by the Financial Services Agency. The price was further knocked down by news of Google and Facebook bans. Twitter representatives stated that they wanted to make sure that its users were not the victims of some type of fraudulent activity.

Do you agree with Twitter's decision to join the cryptocurrency ads ban bandwagon?

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Tatiana Moroz, the founder of Crypto Media Hub, told Bitcoin Magazine that filling the space left by the absence of advertising on the search engine and social media platforms will result in higher quality interactions through community involvement and relationship building. Crypto Twitter is a source of rumors and news about cryptocurrency as well.

Bitcoin (BTC) was down around 8% following the news, according to Coincompare, dipping back below the $8,000 dollar mark after a brief spike overnight (UK) had sent it up over the $8,100 mark. Reading into Twitter's position, it appears that Initial Coin Offerings (ICOs) are the main trigger behind the move.

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