So here comes the death of cryptocurrency advertising. It seems that Twitter is also going to follow the path of Facebook and Google by banning almost all cryptocurrency related advertisements on its platform. The news, though unconfirmed, has come from Sky News network of UK, which is a reputed news network worldwide so it may not be entirely untrue. And if true then this ban is coming sooner than expected!
Sky News report suggests that Twitter is planning to implement an advertising policy change within two weeks that will prohibit advertisements of ICOs, token sales, cryptocurrency exchanges and even wallet companies. A few exceptions may exist, but it’s unclear which ones they will be. Twitter has not yet responded to the emails seeking a comment on this story.
The news comes close on the heels of Google’s recent advertising policy change that plans to ban all cryptocurrency advertising from June 2018. Facebook had already implemented such ban in January itself. Now, since Twitter has also been facing a lot of flak for allowing cryptocurrency scammers to organize their activities on its platform, it should not be too surprising if company follows the path of Facebook and Google. A few days ago company had also started a mass cleanup campaign of Twitter accounts that promoted cryptocurrency scams. This new advertising ban may further tighten the grip of company on promotion of those scams. However, the move, if implemented, will also impact the legitimate cryptocurrency industry.
While this will not mean a death of cryptocurrency advertising literally, going forward it’s going to be very difficult to promote cryptocurrency related products and ICOs. Since almost all major internet companies have pulled the plug on cryptocurrency advertising, it will not be easy to find out profitable marketing channels for crypto ads.
We’ll keep an eye on this story as it develops, and will bring you more information about it as it’s revealed so keep checking for our updates.