Twitter has just published an update to its Restricted Content Policies regarding the promotion of financial services to include the limitations on “Cryptocurrency ICOs” and “Cryptocurrency token sales.”
When it will be implemented?
According to Twitter, the new rules come into effect from Tuesday, March 27, and will roll out for all advertisers in the next 30 days. . Crypto ads restrictions are now applicable to Twitter’s paid advertising products, which are Tweets, trends and accounts.
Why is it important?
We have already warned that Twitter might ban ICO ads. The limitations mean that crypto ad, just like any advertisement of a financial product, now need to:
- be compatible with all applicable law; provide necessary disclosures, balanced information of risks and benefits, and all information that must be provided to the investor;
- be clearly identified as financial services;
- indicate the nature and specific type of financial service.
Time to update or pause your ICO ad campaign!
What can we learn from it
- Twitter’s action follows Google, Facebook and Snapchat’s ban on ICO ads.
- With regards to cryptocurrency exchanges and wallet services, Twitter will only allow the ads from the ones that are publicly-listed companies on major stock markets (https://goo.gl/hN6aXu).
- However, there is a light at the end of a tunnel: a Twitter’s spokesperson said that the platform will continue “to iterate and improve upon this policy as the industry evolves.”