[2018-03-27] Twitter Confirms Ban On Cryptocurrency ADS

[nickbelski]

  
Twitter has publicly announced that they will start instituting a ban on cryptocurrency ads, including ICOs, following in the footsteps of Google and Facebook.

Bitcoinist reported several weeks ago that Twitter was reportedly set to begin banning cryptocurrency ads on a global scale. Now the news is confirmed as the social media platform has announced that they will begin the crypto crackdown due to an ongoing effort to reduce fraud and protect users.

The long march towards banning

Twitter is the latest entry on a growing list of internet sites that are banning cryptocurrency ads. Facebook was the first, announcing their decision back in January to ban all advertising for ICOs and cryptocurrencies. Facebook was then followed by Google, which plans on enacting their ban in June.

Since then, pressure has mounted on Twitter CEO Jack Dorsey and the social media site to follow suit. A lot of people have expressed frustration over how many fraudulent accounts and scam artists were populating the social media space. Now Twitter has taken action, starting today. A spokesman for the social media giant states:

"We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally. We will continue to iterate and improve upon this policy as the industry evolves."

Not a total ban

However, it is important to note that this Twitter ban is not a complete and total one. Cryptocurrency wallet services and exchanges that are publicly listed on “certain major stock markets” will be allowed to continue advertising their services. In Japan, only those exchanges that are under the country’s Financial Services Agency regulation will be allowed to advertise.

Overall, this news is being met with considerable enthusiasm. The consensus is that such banning of cryptocurrencies and ICO ads will cripple the many fraudulent operations that are clogging up the crypto space. Banning ads is seen as cutting off the oxygen to the crypto bad actors, which will help legitimate enterprises.

Of course, another major reason behind the banning of cryptocurrency ads is that of liability. Twitter, Facebook, and Google are all protecting themselves from being held liable if a scam artist uses their platforms to swindle people. As big as they are, these internet behemoths want no part of a crypto-based class action lawsuit.

Source: http://bitcoinist.com/verge-hits-crowd-fund-target-price-spike-follows/

[readygoaw]

From one side it is really great because last time it was many new tokens with their ICO.
From other side it will make harder for new creators run their ICO.  It might somehow slow the development of new tokens.

[seoincorporation]

Given the big amount of scamming projects surrounding the cryptoworld it has become necessary those kinds of implementations. As far as I've seen, the platforms banning ads are not against the blockchain itself, but against the fraudulent use of it, as a scam, fraudulent ICOs, and not confidable investing sites. To me, this is a necessary evil, and I do not agree with the idea of good ICOs having a problem with that: if you have a confidable project you will not need to say "Ey, free money here!!! " as many spam sites do every day.
Besides, it will help for the people to take seriously the crypto world, for what kind of asset is announced on the internet as a sort of miracle?? None. And if everyone is, for instance, trying to sell dollars with "great profits", it will be treated instantaneously as a scam. So, what's the difference with cryptocoins? Again, none. There is no difference at all. If we want for crypto to be taken seriously our first move is to stop that kind of advertisement because it damages the crypto image.

[1Referee]

From other side it will make harder for new creators run their ICO.  It might somehow slow the development of new tokens.

If so, I applaud this development, because there simply isn't any need for shitty ICO's raising money for whatever purpose they will fail to deliver, while in the back ground the main figures buy themselves expensive cars, etc. I however don't believe that it will help much, especially because of the fact that ICO's are very creative in trying to gain as much exposure as possible - they don't need Twitter, Facebook and Google for that. Social media campaigns will gain more popularity, which might at some point result in social media sites to force through even more intense anti crypto policies. If people at some point can't even speak about crypto anymore on social media, that will be a proper sign of how much we are in need of decentralized incentives to escape from this nonsense.

[richardsNY]

If people at some point can't even speak about crypto anymore on social media, that will be a proper sign of how much we are in need of decentralized incentives to escape from this nonsense.

Freedom of speech is already being limited on social media platforms, where preventing people from talking about crypto is likely (I hope not of course) the next thing. I would even go that far to say that freedom of speech doesn't actually exist, and probably never have been on social media. It would be an ultimate low if it turns out to happen, but definitely not surprising. People by banks can't freely spend their own money on crypto in certain countries, social media limiting people's ability to talk about crypto isn't unlikely, which gives you an impression of how poison the current time is we're living in. People should be thankful and more respectful towards Bitcoin with all that in mind....

[audaciousbeing]

Given the big amount of scamming projects surrounding the cryptoworld it has become necessary those kinds of implementations. As far as I've seen, the platforms banning ads are not against the blockchain itself, but against the fraudulent use of it, as a scam, fraudulent ICOs, and not confidable investing sites. To me, this is a necessary evil, and I do not agree with the idea of good ICOs having a problem with that: if you have a confidable project you will not need to say "Ey, free money here!!! " as many spam sites do every day.
Besides, it will help for the people to take seriously the crypto world, for what kind of asset is announced on the internet as a sort of miracle?? None. And if everyone is, for instance, trying to sell dollars with "great profits", it will be treated instantaneously as a scam. So, what's the difference with cryptocoins? Again, none. There is no difference at all. If we want for crypto to be taken seriously our first move is to stop that kind of advertisement because it damages the crypto image.

I would agree with you on this because the trust of projects based on blockchain and all of the "first in this project and that project" backed by ICO has dropped greatly that you are likely to believe in ten times lies than just one truth despite the amount of  verification, due diligence, investigation of the project and those involved. While this should not be something to totally rejoice about, as the influence of ICO is totally not all bad and scam to the crypto currency space, there is a consolation that Twitter is making available which is supporting those that have met certain criteria and I think that is solid enough to show their commitment to the growth of alternative means of doing things compared to their counterparts like Google and Facebook that gave a blanket ban which no one could do anything about.

 
Twitter has publicly announced that they will start instituting a ban on cryptocurrency ads, including ICOs, following in the footsteps of Google and Facebook.

Bitcoinist reported several weeks ago that Twitter was reportedly set to begin banning cryptocurrency ads on a global scale. Now the news is confirmed as the social media platform has announced that they will begin the crypto crackdown due to an ongoing effort to reduce fraud and protect users.

The long march towards banning

Twitter is the latest entry on a growing list of internet sites that are banning cryptocurrency ads. Facebook was the first, announcing their decision back in January to ban all advertising for ICOs and cryptocurrencies. Facebook was then followed by Google, which plans on enacting their ban in June.

Since then, pressure has mounted on Twitter CEO Jack Dorsey and the social media site to follow suit. A lot of people have expressed frustration over how many fraudulent accounts and scam artists were populating the social media space. Now Twitter has taken action, starting today. A spokesman for the social media giant states:

"We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally. We will continue to iterate and improve upon this policy as the industry evolves."

Not a total ban

However, it is important to note that this Twitter ban is not a complete and total one. Cryptocurrency wallet services and exchanges that are publicly listed on “certain major stock markets” will be allowed to continue advertising their services. In Japan, only those exchanges that are under the country’s Financial Services Agency regulation will be allowed to advertise.

Overall, this news is being met with considerable enthusiasm. The consensus is that such banning of cryptocurrencies and ICO ads will cripple the many fraudulent operations that are clogging up the crypto space. Banning ads is seen as cutting off the oxygen to the crypto bad actors, which will help legitimate enterprises.

Of course, another major reason behind the banning of cryptocurrency ads is that of liability. Twitter, Facebook, and Google are all protecting themselves from being held liable if a scam artist uses their platforms to swindle people. As big as they are, these internet behemoths want no part of a crypto-based class action lawsuit.

Source: http://bitcoinist.com/verge-hits-crowd-fund-target-price-spike-follows/

[Qartersa]

 
Twitter has publicly announced that they will start instituting a ban on cryptocurrency ads, including ICOs, following in the footsteps of Google and Facebook.

Bitcoinist reported several weeks ago that Twitter was reportedly set to begin banning cryptocurrency ads on a global scale. Now the news is confirmed as the social media platform has announced that they will begin the crypto crackdown due to an ongoing effort to reduce fraud and protect users.

The long march towards banning

Twitter is the latest entry on a growing list of internet sites that are banning cryptocurrency ads. Facebook was the first, announcing their decision back in January to ban all advertising for ICOs and cryptocurrencies. Facebook was then followed by Google, which plans on enacting their ban in June.

Since then, pressure has mounted on Twitter CEO Jack Dorsey and the social media site to follow suit. A lot of people have expressed frustration over how many fraudulent accounts and scam artists were populating the social media space. Now Twitter has taken action, starting today. A spokesman for the social media giant states:

"We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally. We will continue to iterate and improve upon this policy as the industry evolves."

Not a total ban

However, it is important to note that this Twitter ban is not a complete and total one. Cryptocurrency wallet services and exchanges that are publicly listed on “certain major stock markets” will be allowed to continue advertising their services. In Japan, only those exchanges that are under the country’s Financial Services Agency regulation will be allowed to advertise.

Overall, this news is being met with considerable enthusiasm. The consensus is that such banning of cryptocurrencies and ICO ads will cripple the many fraudulent operations that are clogging up the crypto space. Banning ads is seen as cutting off the oxygen to the crypto bad actors, which will help legitimate enterprises.

Of course, another major reason behind the banning of cryptocurrency ads is that of liability. Twitter, Facebook, and Google are all protecting themselves from being held liable if a scam artist uses their platforms to swindle people. As big as they are, these internet behemoths want no part of a crypto-based class action lawsuit.

Source: http://bitcoinist.com/verge-hits-crowd-fund-target-price-spike-follows/

I sure know this will backfire at them because people would always look for means to earn money rather than make it big in social media, well, at least for people my age. I am certain cryptocurrencies won't die just because of this because Twitter, Facebook, Google, among others, are certainly not everything. The more they suppress people, the more the latter will find ways to do some workaround just so they could earn bucks. This is the nature of life, just like gravity. No matter how much we put a stop to it, what is meant by nature will always find its course. Having said such, good luck on Twitter!

[Taki]

Cryptocurrency wallet services and exchanges that are publicly listed on “certain major stock markets” will be allowed to continue advertising their services.

Isn't that good guys? I am totally support the decision of Twitter and hope that our Russian social network vkontakte.com which has millions of users over the world will also join the course. We are going to be safe from the possibility to become scammed? especially those newbies who are blindly follow every sources with the greedy wish to become a crypto millionaire fast.

[Lucius]

Cryptocurrency wallet services and exchanges that are publicly listed on “certain major stock markets” will be allowed to continue advertising their services.

Isn't that good guys? I am totally support the decision of Twitter and hope that our Russian social network vkontakte.com which has millions of users over the world will also join the course. We are going to be safe from the possibility to become scammed? especially those newbies who are blindly follow every sources with the greedy wish to become a crypto millionaire fast.

Of course it is good,it's good for everyone except for those who are earned a lot of money by cheating others-and this was an industry of hundreds of millions of dollars.This decision will certainly have a negative impact to some legitimate jobs,but as Twitter and some others do not have a way in selecting the good from the bad this seems to be the only correct way.

In the end, we need to fully understand that there is a good and bad business,and at this time allow advertising without any restrictions is a bad deal for Twitter.

[Gotottack]

Well, as I read it, it does not contemplate a total ban. The subject hereto is just simply inaccurate.

In fact, the 'ban' herewith stipulated merely contemplates a regulation for ICOs. Meaning, they would allow continued ads but only those that are registered with certain agencies. Hence, I see this as a good way to deter scams that are rampant nowadays. More importantly, I think the Twitter management only likes to ensure that its social media platform is not being used and abused by those who only proliferate illegitimate causes. It is more like a protection of the reputation of the business they are into. Overall, I see no wrong on the part of the Twitter management.

[SaintGraal]

In fact, this ban can help some small projects to flourish. For example, Matchico project is intended to help ICO projects and investors find each other. So, this market niche never will be empty

[danielschwerzer]

That stupid situation when one decided to ban crypto and others just follow. Hate this stuff

[RodeoX]

It's a ban on SCAM ads. We should welcome it.

[SaintGraal]

It's a ban on SCAM ads. We should welcome it.

Not all crypto projects are a scam, some of them are really intended to change the existing things for the better I believe. Everyone just should wisely make its own research.

[richardsNY]

Not all crypto projects are a scam, some of them are really intended to change the existing things for the better I believe. Everyone just should wisely make its own research.

While not all projects are a scam by default, most of the projects or services that advertised on social media were scams. It was pretty insane if you look back at what garbage was being advertised. I honestly haven't seen one single legit project or service advertise. It was all ICO's promising like 50% bonuses, and investment schemes trying to lure people in with crazy weekly or daily returns. On the other hand, I also agree with you that people should be held responsible for their own actions -- we shouldn't constantly blame social media or regulators for not doing something about it. People just need to grow up and put their common sense to work. If something looks too good to be true, then it is -- investing anyway because you think you can get away early enough is ill minded stuff....

[veleten]

only expexted,since Google,Facebook,Twitter are all parts of one big machine
you can't expect one part to ban the ads and another just pretend nothing happened
on the other hand,there will be less ICO and get rich 1000% ROI ads I hate so much
but as per usual,the baby is gone with the bath water so it is more negative than positive