Twitter is banning cryptocurrency advertisements on its platform starting Tuesday, March 27.
In a statement to CNBC on Monday, a spokesman for Twitter said, “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.”
The company is prohibiting advertisements about initial coin offerings (ICOs) and token sales globally under its new policy, according to the spokesperson.
Earlier this month, the Twitter began deleting the accounts of scammers impersonating prominent personalities on its platform.
Twitter and other social networks protecting investors from fraud
Twitter followed the moves of Facebook and Google, which already announced a ban on cryptocurrency ads. Google’s restrictions cover binary options and similar products, ICOs, cryptocurrency exchanges, wallets and trading advice. It will start in June.
On the other hand, Facebook is prohibiting deceptive and misleading ads about bitcoin and other digital currencies, binary options, and ICOs.