March 26, 2018 / 3:10 PM / 6 months ago

Twitter to ban cryptocurrency adverts on its platform

LONDON, March 26 (Reuters) - Twitter Inc is to ban most advertising of cryptocurrencies on its platform, joining Facebook and Google in a clampdown on the nascent industry, the company said in a statement.

The San Francisco-based firm will this week launch a policy that prohibits advertising of initial coin offerings (ICOs), a form of crowdfunding used to raise cash by creating new coins, as well as adverts that promote token sales and crypto wallet services, the company said in a statement provided to Reuters.

The policy will also ban adverts from crypto-exchanges, with some limited exceptions.

Twitter said this month it was taking measures to prevent crypto-related accounts from "engaging with others in a deceptive manner", but it has faced calls to go further after bans by Facebook and Google.

Facebook restricted crypto-related adverts in February, while Google announced a ban this month that comes into force in June. (Reporting by Tommy Wilkes and Fanny Potkin; Editing by Kevin Liffey)

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