Twitter Announces Ban On Cryptocurrency Ads

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Twitter announced Monday it will ban advertising for cryptocurrencies, joining advertising giants Google and Facebook in a wider crackdown that aims to protect investors from fraud.

“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,” a Twitter spokesperson told CNBC Monday. “Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally.”

READ: Bitcoin Down After Google’s Decision To Ban Cryptocurrency Ads From June

Bitcoin down 7 percent Monday to below $8,000 following weeks of regulatory uncertainty and advertising crackdowns by tech companies. According to data from Coinbase. It’s down more than 42 percent year to date after starting this year above $13,000.