With Facebook and Google both deciding to ban all cryptocurrency-related advertising on their online platforms, it was probably only a matter of time before other powerful online companies followed suit. According to media reports, Twitter is planning to institute a similar ban in the next couple of weeks. The Twitter ban will reportedly include ads for cryptocurrency token sales, digital currency wallets, and initial coin offerings.
Sky News has reported that the ban could even extend to digital currency trading exchanges. If so, then Twitter’s prohibitions would closely mirror those implemented earlier in the week by internet giant Google.
As Fortune noted on Sunday, Twitter was the “last bastion for broad advertisements of cryptocurrency sales and projects.” This latest move is a clear indication that major online advertising platforms have been closely monitoring some of the signals emerging from U.S. regulatory agencies like the SEC and CFTC. In recent months, the government has been very vocal in its opinion that cryptocurrencies must be viewed as securities.
Fortune’s report suggests that those agency declarations may have motivated online advertising platforms to take these actions now, rather than deal with problems that might arise as the government more closely monitors crypto-related online marketing campaigns in the future.
