The phrase
"cryptocurrency advertisements" refers to promotional messages or commercials that promote digital currencies like Bitcoin. These ads are aimed at attracting people's attention and convincing them to invest or use these types of virtual money.
Full definition
The banning
of cryptocurrency advertisement started when concerns were raised that scammers were using online ads to locate victims willing to part with their money for today's Dutch tulip auctions.
Those looking to run advertisements for cryptocurrencies and related products may soon have to steer clear of Twitter, which Sky News reported on Sunday is «preparing to prohibit a range of
cryptocurrency advertisements amid looming regulatory intervention in the sector.»
Facebook took similar action
against cryptocurrency advertisements last January as it announced their ban on advertisements for initial coin offerings, binary options, and cryptocurrencies.
While Twitter has yet to confirm the reported crackdown
on cryptocurrency advertisements, the decision to do so would put Twitter in line with Facebook and Google, both of which took action in recent weeks to limit or block cryptocurrency ads.
A class action lawsuit against internet giants Facebook, Google, Twitter, and Yandex, is reportedly being put together by the respective cryptocurrency and blockchain associations of Russia, China, and South Korea, in response to their recent outlawing
of cryptocurrency advertisements.
Cryptocurrency advertisements are disappearing from top internet pages, and bitcoin no longer dominates Google searches.
More concerns have emerged about the sector this week as Facebook banned
cryptocurrency advertisements and US regulators began investigating tether, a cryptocurrency that some fear has been used to inflate the value of bitcoin.
Despite showing clear support for blockchain technology and cryptocurrency just a few weeks ago, Zuckerberg has banned
all cryptocurrency advertisements from his site.
Regarding banning
cryptocurrency advertisements, the social networking company's news page wrote «We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception.
Google announced in their blog post that they would be following in Facebook's footsteps and banning and pulling
all cryptocurrency advertisements from their network starting in June.
This came as worries grew among investors, much FUD, sparked by the latest actions taking by some of the big names within the social media space, in their cracking down on
cryptocurrency advertisements.
This week, Facebook reported that it was set to ban
cryptocurrency advertisements.
Keeping pace with the mood in banking circles, Facebook, Google, Twitter are banning ICO and
cryptocurrency advertisements.
A report released by Sky News today suggests that Twitter is considering a platform - wide ban on
cryptocurrency advertisements.
Twitter announced Monday that
cryptocurrency advertisements would be banned from the website starting Tuesday.
Not too long after Google announced that it would be banning
cryptocurrency advertisements on its ad network, reports have emerged that Twitter will soon follow suit.