Twitter is the latest social network to crack down on cryptocurrency scams which have seen a sharp rise in the last few months on social media.
After Facebook started to ban cryptocurrency and ICO related ads in January, Twitter is taking a similar stance; and is starting to ban users who solicit cryptocurrencies and/or promote ICOs in their Tweets. This step is seen as a little “too little a little too late,” as there has been an explosion of related scams on social media – Facebook and Twitter in particular. Facebook may have addressed this to a certain extent by banning ads relating to cryptocurrencies altogether, but Twitter has just now started to take note.
While Twitter’s current Advertising rules do not explicitly contain cryptocurrencies or ICO ads, prohibitions include “ads for products or services that are potentially unsafe or deceptive, and ads making misleading or deceptive claims, such as “get rich quick” offers.”
It’s true that not all cryptocurrency or ICO related content is a scam, the area is still totally unregulated, and thus there is a much higher probability of scamming activity. As such, for Twitter to continue to allow related ads is problematic at the very least. A Twitter spokesperson told Reuters recently, that it’s aware of “this form of manipulation and [is] proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner.” But that’s about it. For now.
It’s still a good idea to start cracking down, but Twitter should move faster in informing its ads policies, before the problem gets way out of hand.
You might also like
More from Twitter
Twitter Blue Subscribers Now Get Up To One Hour To Edit Their Tweets
Not only do Twitter Blue subscribers get to edit their tweets, but now they will have up to 60 minutes …
Twitter Now Publicly Shows Who You Are Paying To Subscribe To
Twitter added a "Subscriptions" button to the user profile that lets anyone see who you are paying to subscribe to. Ever …
Twitter Blue Verified Subscribers Can Now Upload 2-Hour Videos
It probably still won't convince you to sign up, but Twitter Blue subscribers can now upload videos up to 2 …
Twitter Launches Encrypted DMs, But Only For Paid Subscribers
To send an encrypted DM on Twitter, you will need to be a Twitter Blue verified user, a verified organization, …
Twitter Is Purging Old Inactive Accounts
The purge of old and inactive Twitter accounts could free up many long-coveted usernames. Musk says Twitter will be removing accounts …
Is Twitter Working On A Cheaper Verification Plan For Organizations?
Twitter is reportedly working on a cheaper alternative for organizations to get verified on its platform. Currently, the only available …
Twitter Will Offer Free API Access For Public Announcement Accounts
Twitter announced it will revert to making its API free to use for accounts posting public announcements such as weather alerts, …
Twitter Blue Checks Reappear When You Update Your Bio
Are you ready for the new episode of the Twitter Blue Checks saga? A bug makes them reappear when you …
Twitter Will Require All Advertisers To Be Verified
It seems Twitter has found yet one more way to force users into paying for verification: Advertising on the platform …
