We’re not even a quarter of the way through the year, and 2018 has already been filled with massive developments in the crypto world. Amidst widespread calls for legislation, internet giants like Facebook and Google have begun prohibiting crypto-related advertisements. Now it seems that Twitter will impose similar changes to advertising policies.
According to an unconfirmed report by Sky News, the micro-blogging platform, Twitter, could be updating their advertising policies in a move that will see ads for ICOs, token sales, and cryptocurrency wallets restricted. While the move doesn’t come as a shock – Google and Facebook have both recently taken similar action – it is another blow for the crypto community at a time when the confidence of some investors is waning.
What should we expect from Twitter’s new ad policy?
Details are thin on the ground, but the ban is expected to be implemented in two weeks’ time. Hopefully, the ban won’t reflect the hardline approach taken by Google and Facebook, but considering their competitor’s actions, Twitter will want to be seen taking a firm stance against scammers and bad ads.
If Twitter’s emphasis is on protecting its users from scams, then the move could even prove to be a positive in the long run — provided Twitter isn’t wholly dismissive of cryptocurrencies and related media. Also, the report from Sky News does not mention ads for airdrops, which have become a popular way of helping new projects take off.
What next for ICOs?
Twitter is the go-to social media platform for companies and professionals involved with ICOs, so a ban on advertisements won’t necessarily affect their reach.
The crypto community is still relatively small, and because of this, it has matured quickly in the wake of high-profile scams, thefts, and lack of regulatory protection. Such a small community wouldn’t survive unless its members were largely vigilant, and this vigilance ensures the community is filled with people who don’t respond to advertising alone when making their investments. Many can judge a good ICO from a whitepaper and after researching the company and its founders’ credentials. This means that good tokens always stand a chance of garnering a great deal of interest.
Another harsh ban on crypto related media won’t be ideal, but all things considered, it is by no means a fatal blow.