Twitter may soon follow in the footsteps of other large technology companies by placing a ban on advertisements for cryptocurrencies and related products and services, according to a report from Sky News.
The new restrictions are reportedly set to go into effect in the next two weeks and will severely limit the ability of cryptocurrency-related companies and startups to advertise on the popular social media platform.
Once implemented, it is expected the ban will prevent the advertising of initial coin offerings (ICOs), a controversial means of raising funds in which early investors provide money to a startup in exchange for digital tokens with the promise that if the company succeeds, the tokens will skyrocket in value.
ICOs have become notorious for being used as tools by scammers looking to take investor money and run. A recent report from research firm Ernst and Young found that people have lost more than $400 million in ICOs.
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