03:20 GMT07 July 2020
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    Twitter is reportedly considering banning advertisements for initial coin offerings (ICOs), token sales and cryptocurrency wallets globally.

    In an unconfirmed report by Sky News, the micro-blogging network is allegedly looking to change its policy on almost all cryptocurrency exchanges, with some limited exceptions.

    Twitter’s reported crypto ad ban would come in the wake of Facebook and Google prohibiting financial advertisements due to fear of misleading or deceptive promotional activities.

    The new advertising policy is set to be implemented in the next two weeks.

    However, the micro-blogging network has not yet responded to these reports. 

    Back in January, Facebook banned financial advertisements due to concerns of illegal activities.

    Later on, Google followed suit by prohibiting ads for cryptocurrencies, including initial coin offerings, cryptocurrency exchanges, wallets and trading advice services.

    Twitter has recently faced a large number of fake accounts pretending to advertise cryptocurrency giveaways, often pretending to be people famous in the crypto-sphere, like Litecoin’s Charlie Lee.


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