Twitter has announced they will no longer allow cryptocurrency ads, according to Reuters.
The policy change will be rolled out over the next thirty-days and will also ban ads by cryptocurrency exchanges and cryptocurrency wallets, unless they are public companies listed on major stock markets.
“We are committed to ensuring the safety of the Twitter community,” a statement from Twitter provided to VentureBeat read. “As such, we have added a new policy for Twitter Ads relating to cryptocurrency. Under this new policy, the advertisement of initial coin offerings (ICOs) and token sales will be prohibited globally.”
According to Reuters, “regulators have stepped up warnings that bitcoin and other virtual currencies are highly speculative and that some could be fraudulent, and that investors should be prepared to lose everything.”
Both Facebook and Google announced at the beginning of the year they would be banning cryptocurrency ads. Facebook’s ban has already taken effect and Google’s should be implemented by June, according to VentureBeat.