Twitter to ban cryptocurrency ads from Tuesday

San Francisco, March 27: Twitter has confirmed that it will begin blocking cryptocurrency-related ads on the platfrom from Tuesday even as the micro-blogging site updated its policy relating to such advertisements.

"We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally," The Verge quoted the company as saying.

"The policy will be fully enforceable among all advertisers within a month," Twitter said, adding that all ICOs and token sales would be banned, and cryptocurrency exchanges and wallets would be restricted to only public companies listed on major stock markets.

Earlier this month, Twitter CEO Jack Dorsey acknowledged that the company was facing an issue wherein copying verified Twitter accounts to trick cryptocurrency users was becoming increasingly prevalent. IANS