Twitter looks to ban Bitcoin adverts

Twitter is reportedly set to ban adverts for Bitcoin and other cryptocurrencies on its platform.

According to Sky News, the social media site will become the next major online figure to outlaw advertising for cryptocurrencies following concerns they could be being used by cybercriminals.

The new rules are set to come into force within the next few weeks, and will reportedly outlaw advertisements for initial coin offerings (ICOs), token sales, and cryptocurrency wallets.

The worldwide ban may also cover adverts for cryptocurrency exchanges, used by traders and other interested parties to buy and sell items such as Bitcoin.

Banned

If true, Twitter would be following in the steps of fellow Internet giants in blocking cryptocurrency content from its pages.

Last week, Google announced it would be blocking all cryptocurrency-related content, including adverts for ICOs, exchanges, digital wallets, and trading advice from its AdWords platform from June 2018.

Back in January, Facebook also announced a similar crackdown on Bitcoin and other cryptocurrency content in what it said was a move to try and protect its users from being targeted by scams.