A blanket
ban on cryptocurrency ads is therefore part of a concerted effort to «manipulate the market» and weaken investor morale.
While internet advertising giants have taken a
stance on cryptocurrency ads, a report from SimilarWeb says that only around one percent of traffic to cryptocurrency exchange websites comes from ads.
Twitter's ban comes after action taken by Google, which announced a ban
on cryptocurrency ads earlier this month that will come into effect in June.
Following the ban
on cryptocurrencies ads by Twitter, Google, Facebook, Yandex and rumours of Snapchat also making similar moves, representatives
Google, the internet heavyweight, filled the cryptocurrency space with fear when it announced it will impose a ban
on cryptocurrency ads from running on their platform.
While decisive action has not yet been taken, Sky News reported on March 19th that Twitter plans on joining its peers Facebook and Google by issuing a ban
on cryptocurrency ads.
The week began with news that Twitter's ban
on cryptocurrency ads was taking effect immediately, affecting an industry already taking a hit in interest worldwide.
The ban
on cryptocurrency ads will ideally stop scammers, but Twitter will allow some ads to appear as long as they're from a recognized or licensed institution.
While the warning from the IMF and Google's ban
on Cryptocurrency ads are not directly related, they do pose a larger question surrounding how people are abusing the cryptocurrency craze and using it for illegal activities like black markets, fraud and scams targeted through ads.
Bans
on cryptocurrency ads won't deter those who are curious about the industry from researching it on their own.
However, Google's ban
on cryptocurrency ads won't affect already established coins.
Twitter has publicly announced that they will start instituting a ban
on cryptocurrency ads, including ICOs, following in the footsteps of Google and...