Twitter joins Facebook and Google in banning cryptocurrency adverts

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Twitter is banning cryptocurrency adverts across its site from Tuesday, succumbing to mounting pressure to join Google and Facebook in a crackdown on the controversial promotions.

Twitter said it would be banning adverts for both initial coin offerings and token sales, saying: “We know that this type of content is often associated with deception and fraud, both organic and paid, and are proactively implementing a number of signals to prevent these types of accounts from engaging with others in a deceptive manner”.

News of the ban sent the world’s biggest digital currency by market value, Bitcoin, down more then 6pc, below $8,000.

Last year saw an explosion of such adverts, many of which appeared…

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