It has been coming for some time now, but Twitter finally bit the bullet on crypto ads. Starting today, the company will officially ban such advertisement from its platforms. This means ICOs and token sales will be prohibited globally. However, it doesn’t mention actual cryptocurrencies and service providers can no longer advertise on Twitter. A troublesome situation that needs further clarification.
Several tech giants have taken an aggressive stance against cryptocurrency. This is especially true when it comes to advertising on such platforms. Twitter joins a growing list of platforms where crypto ads are no longer welcome. More specifically, the company prevents ICO and token sales from advertising. Everything else still seems to be allowed, for the time being. That may seem strange, as the original message conveyed by the company showed a different intent.
Twitter Seems Fine With Bitcoin Advertisements
It is evident the company wants to protect investors from fraud. In that regard, the company joins both Google and Facebook. Although the ICO industry is immensely popular, the risks should not be ignored whatsoever. Protecting consumers from these risks requires a very strict approach.At the same time, banning cryptocurrency advertisements is an effective form of online censorship. It is a very dicey situation to contend with, even for Twitter.
With a global ban on ICO and tokens ales advertisements, Twitter will become a bit more interesting. A lot of the shilling will hopefully subside from now on. At the same time, it seems regular cryptocurrency ads are still perfectly fine. The ban does not mention any strict opposition to Bitcoin and existing altcoins as of right now. Whether or not those guidelines will be amended, remains to be seen. It is possible Bitcoin ads will continue to show up for quite some time, though.
It is evident initial coin offerings pose a big problem. The same can be said about token sales as of right now. Assuming Bitcoin and associated companies cna still advertise, things will get very interesting. It may also remove some of the bearish pressure on the market. Only time will tell how things will effectively play out in this regard. For now, it seems Bitcoin ads on Twitter are just fine until proven otherwise.
Header image courtesy of Shutterstock