The Twitter ban will also cover advertisements by cryptocurrency exchanges and cryptocurrency wallet services.
Twitter on Monday confirmed that it has banned cryptocurrency advertisements on its platform, Reuters reported. Interestingly, the microblogging site’s CEO Jack Dorsey who is also a top boss of payments company Square had told The Times earlier this week that bitcoin would become the leading currency in the coming 10 years. Ultimately the entire world will have a single currency, even the internet, and I believe that that will be Bitcoin, he had told The Times. Other than Twitter, Facebook and Google have already banned ads related with cryptocurrency on its platform. The ban that came into effect today will take around 30 more days to be implemented fully.
One of Silicon Valley’s leading entrepreneurs had said that bitcoin will overcome the recent concerns including weakness in the value. He also said that a day will come when bitcoin will be used in buying everyday items such as coffee.
The Twitter ban will also cover advertisements by cryptocurrency exchanges and cryptocurrency wallet services. The ban will be limited to crypto exchanges which are regulated by its national financial regulator in Japan, Twitter informed. Search engine Google had announced a ban on cryptocurrency ads earlier this month. The Google ban will come into effect in the month of June.
Facebook had taken a similar action against the crypto ads at the end of January. The company had then said that it had taken this step to make it harder for scamsters to succeed on its platform.
Cryptocurrencies especially Bitcoin have lost their value significantly just at the start of this year due to regulatory crackdown on it in different parts of the world.