Twitter bans ads on cryptocurrencies

The social network Twitter announced that it will ban advertising on cryptocurrencies on its website as part of the brakes on scam attempts, so it adopts the initiatives taken by other Internet groups, such as Facebook and Google.

“We are committed to maintaining the security of the Twitter community. To do this, we have incorporated a new rule on Twitter advertising linked to cryptocurrencies, which stipulates that advertising to raise funds in cryptocurrencies (Initial Coin offers, ICO) and sales of ‘virtual currencies’ will be banned worldwide “, highlighted the US social network in a statement.

ICO, consists in the creation of a virtual currency of its own and the sale of it to investors who pay in other assets such as traditional currencies or cryptocurrencies.

This type of virtual currency exchanges are subject to great volatility. They are also suspected of operating as a money laundering tool for criminal networks. In this regard, the world is focused on creating effective oversight systems.

In the same order of ideas, it should be noted that in March the US Securities and Exchange Commission (SEC) urged electronic platforms, where cryptocurrencies are exchanged, to register.

The agency also sued cryptocurrencies that, in its opinion, are fraudulent and started investigations on companies that work with this market.

In the same way, the finance ministers of the G20 rejected the recognition of bitcoin and other altcoin as sovereign currencies, while warning about their possible “implications for financial stability“.

A. Rodríguez

Source: Dinero.

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