After Google made an official announcement to ban the cryptocurrency based ads on its platform, starting from June, it seems like Twitter has taken over to show full support. Twitter is reportedly preparing to ban crypto ads and other ads related to ICOs, token sales, and cryptocurrency wallets.
This policy is believed to come into action after 2 weeks from now. The report suggests, however, that the new policy will be launched with some “limited exceptions” in regards to trading platforms. However, an official statement is yet to come.
Increasing Crypto Regulations on the Internet
The increase in the restriction and regulations on crypto ads, has been the hot issue of news in the cryptocurrency market. With the digital market finding search engines like Google, or social media platforms like Facebook and Twitter, the most favorable for their clientele, this ban would cause a major setback to the entire cryptocurrency market.
Facebook issued its ban on crypto ads in January, claiming the measures were implemented against certain spams and fraudulent money exchange methods were observed on the social media platform. Following which Google also made a similar announcement to make the ban effective June onwards.
With the news and angry crypto based investors, Google’s move has already provoked reactions from the crypto community. According to Russian media reports, the first lawsuit against the ban has been filed in a Moscow district court. With crypto based ads facing adverse times ahead, investors are increasingly concerned about the downfall of cryptocurrency on social platforms.
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