It seems that new negative news aimed at harming the cryptocurrency market has surfaced, this time it’s coming from Twitter. Apparently, the wildly popular social media platform has taken out an agenda to block off the advertisement of Initial Coin Offerings (ICOs) as well as cryptocurrency wallets.
Cryptocurrency platforms to potentially be excluded.
It’s worth mentioning that recently Google and Facebook have also taken steps towards limiting cryptocurrency related advertisements on their platforms. According to reports, it is most likely that Twitter will be targeting ICOs that are deemed to be fraudulent by its community. Which is not exactly surprising as cases of fraudulent cryptocurrency projects have indeed been ramping up as of recent.
What is most inconvenient about Twitter’s new stance is the fact that the entire market is under pressure. Most of which stems from regulatory questions mounting. Which have lent a hand towards the significant cryptocurrency market capitalization dips that we have been witnessing over the course of the last few months.
So, in addition to Twitter, and as mentioned above, Facebook has also banned all ICO and cryptocurrency advertisements. However, that is not necessarily a bad thing as many unknowing newcomers to the market have fallen victim to fraudulent projects siphoning off their hard earned money.
Google has also recently come to the decision to evoke similar bans.
Why all the hate?
Well, the cryptocurrency industry has definitely gotten a bit overheated with blatant scams. Some of which are not so easy to spot. For instance, AriseBank really managed to fool people for a good while.
The main thing to draw out of this news is that this is not deliberate FUD being spread by popular social media platforms, nor is this a witch hunt targeting cryptocurrencies. No, not at all, in fact, this is good for the ecosystem as a whole. Since it will limit exposure to questionable investment opportunities. Which can deal way more harm than having a little bit fewer crypto market advertisements around the web.
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