Twitter will ban advertisements for several kinds of cryptocurrency products and projects. The policy, according to Sky News, would go into effect in two weeks and would block ads for initial coin offerings, token sales, and cryptocurrency wallets.
It could also encompass a ban on ads for cryptocurrency exchanges. Fortune has reached out to Twitter for confirmation of Sky’s report.
But earlier this month, Twitter CEO Jack Dorsey wrote that the company was “on it” when cryptocurrency watcher Emin Gün Sirer highlighted the prevalence of cryptocurrency “scams” on the site. Get Data Sheet, Fortune’s technology newsletter.
Sirer’s comment was primarily in reference to fake bot accounts, but Twitter has also become nearly the last bastion for broad advertisements of cryptocurrency sales and projects. Both Facebook and Google have imposed similar bans, as it has become increasingly clear that U.S. financial regulators such as the CFTC and SEC regard many cryptocurrencies as investment offerings.
Regulators closely monitor the marketing of investments, suggesting potential headaches for digital advertisers. Platforms such as Google and Facebook use primarily automated systems to screen ads, making it more difficult to prevent misrepresentation. Read more from fortune.com…
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