{"id":22381,"date":"2018-03-27T22:19:27","date_gmt":"2018-03-27T22:19:27","guid":{"rendered":"http:\/\/ci027cfe79a0092697"},"modified":"2018-03-27T22:19:27","modified_gmt":"2018-03-27T22:19:27","slug":"twitter-abruptly-bans-cryptocurrency-ads-beginning-today","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/twitter-abruptly-bans-cryptocurrency-ads-beginning-today","title":{"rendered":"Twitter Abruptly Bans Cryptocurrency Ads \u2014 Beginning Today"},"content":{"rendered":"
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Twitter is a fast player. Less than two weeks ago, the social media giant announced<\/a> it was developing new policies which would lead to the eventual ban of cryptocurrency and ICO-related advertisements on its platform. Bitcoin enthusiasts everywhere likely figured they had a little time to spare, as the changes weren\u2019t expected to take effect until sometime in April at the earliest.<\/p>\n

In addition, it was reported<\/a> that Twitter would also be banning ads for cryptocurrency exchanges, though there would allegedly be exceptions to the rule. <\/p>\n

Executive speculation has now reached an end, as the ban of cryptocurrency marketing strategies takes full effect on<\/a> March 27, 2018. Twitter was the third major internet mogul to announce such a ban after Google and Facebook, but the first to implement it, leading to questions over whether the industry could be damaged<\/a> in the long term.<\/p>\n

\u201cWe are committed to ensuring<\/a> the safety of the Twitter community,\u201d the enterprise confirmed to The Verge<\/em> in a statement. \u201cAs such, we have added a new policy for Twitter Ads related to cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally.\u201d<\/p>\n

Twitter also said that it will end campaigns for cryptocurrency exchanges and digital wallet services.<\/p>\n

\u201cWe know that this type of content<\/a> is often associated with deception and fraud, both organic and paid, and we are proactively implementing several signals to prevent these types of accounts from engaging with others in a deceptive manner,\u201d the company said to Bloomberg<\/em>.<\/p>\n

Following the announcement, bitcoin\u2019s price fell<\/a> by over 7 percent. At press time, the currency is trading for approximately $7,900 \u2014 about $700 less than where it stood over the weekend on March 25.<\/p>\n

Speaking with TechCrunch<\/em>, a Twitter representative said the company \u201cwill continue and improve<\/a> upon\u201d its new policies \u201cas the industry evolves.\u201d<\/p>\n

Twitter\u2019s attitude and actions toward cryptocurrencies have undoubtedly led to both pain and success in the arena. Only a few weeks ago, the company began removing accounts it felt were impersonating the portfolios or personalities of notable cryptocurrency figures, such as Ethereum founder Vitalik Buterin and John McAfee. This ultimately led to serious problems<\/a>, like the real people \u2014 not their impersonators \u2014 being banned instead.<\/p>\n

At the same time, however, Twitter\u2019s CEO Jack Dorsey has offered bitcoin some of its highest praise in recent years. In an interview with The Times, Dorsey confidently exclaimed that within 10 years<\/a>, bitcoin would likely stand as the world\u2019s \u201csingle\u201d currency, and that fiat or other forms of virtual money would become obsolete or nonexistent.<\/p>\n

\u201cThe world ultimately will have a single currency,\u201d he stated. \u201cThe internet will have a single currency. I personally believe that it will be bitcoin.\u201d<\/p>\n

He later commented that bitcoin does not presently have the means to serve as \u201ceffective\u201d cash for all, citing its slow transaction speeds, costly trading fees and general volatility as the main issues to overcome, though he does believe the public will garner greater access to bitcoin in the future as the technology behind it improves.<\/p>\n","protected":false},"excerpt":{"rendered":"

Twitter was the third major internet mogul to announce such a ban after Google and Facebook, but is the first to implement it.<\/p>\n","protected":false},"author":3479,"featured_media":22382,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[411,681,682],"class_list":["post-22381","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bloomberg","tag-jack-dorsey","tag-twitter"],"author_data":{"id":3479,"name":"Nick Marinoff","nicename":"nick-marinoff","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/cropped-bitcoin-schmitcoin-promo-image-1-2-96x96.png"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/twitter-abruptly-bans-cryptocurrency-ads-beginning-today.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/22381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3479"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=22381"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/22381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/22382"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=22381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=22381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=22381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}