More Good News: Facebook, Google and Twitter Ban Crypto Ads - Outside View by Prasheel Vartak

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More Good News: Facebook, Google and Twitter Ban Crypto Ads
Mar 28, 2018

Prasheel Vartak, Research analyst

Click one link related to cryptos, and you're going to be flooded with crypto ads making tall claims and promising to double your wealth, on every site or social network you visit!

Well, not any more.

Facebook and Google have already announced their bans of crypto and ICO advertisements earlier this year - and now Twitter has followed suit, making the smart decision to ban crypto ads. Twitter announced yesterday that it will no longer allow the promotion of Initial Coin Offerings (ICO), pre-sales token, crypto trading platform and wallets projects.

Any crypto advertisements posted on the Twitter social network will be automatically cleared by the site's administrators.

That's right.

No more of those cringe-worthy ads promising a new ICO which will give you 100,000% returns in 10 days.

Social Platforms Making Socially Conscious Decisions

The main reasons are to prevent users from money laundering, identity thief, abuse of power as well as to eliminate the scam accounts and contents. Gullible people click on the links leading to crypto scam sites and end up losing money in the process.

Of course, another major reason behind the banning of cryptocurrency ads is that of liability. Twitter, Facebook, and Google are all protecting themselves from being held liable if scamsters use their platforms to swindle people. As big as they are, these internet behemoths surely don't want to face a crypto lawsuit.

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Not a Complete Ban, However

Despite the concerns, the Twitter ban is not a complete and total one.

Cryptocurrency wallet services and exchanges that are publicly listed on 'certain major stock markets' will still be allowed to advertise their services.

In Japan, only exchanges that are regulated are allowed to advertise.

The crypto community has split in two over this debate.

On the one hand people argue that an ad ban on anything crypto-related would hinder legitimate cryptocurrencies, and blockchain projects, from reaching the mass audience.

Others say an ad ban is good because it will keep away the pesky crypto ads, which are often scams and give the whole crypto space a bad name.

While cryptos and blockchain projects have numerous advantages to offer - decentralization, privacy, and the potential to bank the unbanked, to mention a few - the sector has also seen its fair share of scams and hacks, particularly where ICOs are concerned.

It helps to be informed if you are dabbling in the crypto space, and help is at hand. My newsletter and crypto learning course is designed to make sure crypto enthusiasts make the right decisions in this new asset class.

Warm regards,
Prasheel Vartak
Prasheel Vartak,
Editor, Crypto Confidential

PS: Crypto Confidential is a premium monthly newsletter offering insights on what's happening in the world of cryptocurrencies. Members get access to a cryptocurrency tutorial vault that is worth way more than the subscription fees. Try out the crypto services - sign up here.

Prasheel Vartak is a Certified Bitcoin Professional (CBP), and works with global Crypto Guru Tama Churchouse to bring to his readers, views, and opinions from the cryptocurrency and blockchain space. Prasheel is the editor of the premium monthly newsletter, Crypto Confidential and has authored a comprehensive learning course on Bitcoin, Blockchain and other cryptocurrencies, viewed from an Indian perspective.

© 2018 Common Sense Living Private Limited

Disclaimer:

There are no recommendations made through this article. This is not an offer to sell or solicitation to buy any crypto currencies. All data/ information contained herein is purely educative and informative Please note that you should make yourself aware that crypto currencies are not regulated in India and any action taken, investment(s) made or decisions taken/or not taken based on the information provided herein is solely at your risk and Common Sense Living Private Limited and/or its affiliate(s), associates, employees or directors will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. This is not directed for access or use by anyone in a country where such use or access is unlawful or which may subject Common Sense or its affiliates to any registration or licensing requirement.

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