Twitter could be joining the ranks of internet companies to restrict the advertisement of cryptocurrencies. The micro-blogging platform is said to be preparing a new policy announcement that seeks to ban initial coin offerings (ICOs), cryptocurrency exchanges, token sales, and cryptocurrency wallets.
That said, there may be some exceptions that will allow a limited number of exchanges to promote their services.
Google has already announced restrictions on the advertising of cryptocurrencies over its advertising platform. Most of this is limited to the promotion of questionable ICOs and exchanges; seeing that there has been a trend towards companies releasing digital currencies as a method for raising funds.
Unlike selling shares, an ICO allows companies to raise funds without having to actually provide anything to the buyers – aside from the promise that the cryptocurrency will be useful at some point in the future.
Twitter is said to be implementing this new policy in two weeks, although the company itself hasn’t made an official statement as of yet.
[Source: Sky News]
