Twitter changes its advertising policy. ICO and cryptocurrencies advertising is banned in the social network starting from March, 27, 2018. The company announced that the new rules will protect users from fraud. After the announcement of the news the bitcoin rate fell by 7% and is now below $ 8000 again.
Facebook and Google has recently decided to ban ads of cryptocurrencies. The companies want to make advertising more effective and safe, that’s why they deny to advertise financial instruments often associated with fraud.
Twitter first made profit in the fourth quarter of 2017. The company was unprofitable before that time. The growth in profit in 2017 is largely due to the change in advertising policy and the introduction of video advertising. Apparently, the ban on cryptographic advertising is part of a global transformation aimed at further development of Twitter.
The ban of advertising on cryptocurrencies on popular platforms outraged representatives of cryptocurrencies and blockchain associations. Russian, Chinese and South Korean companies decided to challenge the decision of Facebook, Google, Twitter and Russian search engine Yandex to ban advertising of cryptocurrencies and they claimed it during the conference on cryptocurrencies held in Moscow. Representatives of the associations note that the ban occurred almost immediately on all sites, and they are afraid that the companies have conspired.
But some representatives of the cryptocurrency industry are happy with this advertising ban. Changpeng Zhao, CEO Binance believes that users will not receive links to fishing sites that can intercept data of their accounts.
Interesting fact is that Jack Dorsey, Twitter and Square CEO considers bitcoin to become the currency of the future, able to replace dollar within next 10 years. Dorsey believes that, as the number of bitcoin users grows, technology will be able to solve the problem of network scalability. The entrepreneur invested in Lightning Labs, the project trying to increase the speed of transactions and reduce network fees.