Twitter will soon join Google and Facebook in banning cryptocurrency ads

The new policy may be implemented in as little as two weeks

Twitter app on iPhone X

Twitter will soon ban a range of cryptocurrency ads, according to a Sky News report and verified by MobileSyrup.

Sky News reports that the new policy restrict ads due to concerns about the prevalence of fraud in the cryptocurrency market.

Sources familiar with the story says the report is accurate and there should be an official announcement from Twitter soon.

The policy will be implemented in two weeks globally and will prohibit ads for initial coin offerings (ICOs), token sales and cryptocurrency wallets. It might also ban ads for cryptocurrency exchanges, with some exceptions.

Facebook and Google have already restricted ads due to concerns that the ads put users at risk of encountering scams.

Facebook announced in January that it would prohibits certain financial products that are “frequently associated with misleading or deceptive promotional activities.”

Google reported last week that it would restrict ads related to cryptocurrencies as well.

Cryptocurrencies are expected to be a subject of debate at upcoming G20 meetings.

Source: Sky News