Twitter Joins Facebook, Google In Banning Crypto Coin Sale Ads

(RTTNews) - Twitter Inc. (TWTR) is joining Facebook and Google in banning advertisements for initial coin offerings and token sales on its social-media platform.

"Advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally," a Twitter spokesperson said. "We know that this type of content is often associated with deception and fraud, both organic and paid, and are proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner."

The decision comes after Facebook Inc. banned cryptocurrency ads in January and Alphabet Inc.'s Google said it would ban such ads starting in June, as part of a broader effort to crack down on deceptive and misleading advertising on their platforms. Social-media platforms are keeping cryptos away as regulators cast an increasingly wary eye on the sector globally.