Ten of the 11 highest-rated social media sites – including Oath, WeChat and Weibo – will have banned ads for cryptocurrencies, initial coin offerings (ICOs), tokens and other digital currency-related items by the middle of this year. Twitter is widely expected to become latest addition in coming weeks, leaving only Tumblr, owned by Facebook, Google, allowing advertising. Industry analysts have said the ban will afford regulators the time to create a framework that will benefit the crypto industry in the long term.
Ten of the 11 highest-rated social media sites – including Facebook, Google, WeChat and Weibo – will have banned ads for cryptocurrencies, initial coin offerings (ICOs), tokens and other digital currency-related items by the middle of this year. Twitter is widely expected to become latest addition in coming weeks, leaving only Tumblr, owned by Oath, allowing advertising. Industry analysts have said the ban will afford regulators the time to create a framework that will benefit the crypto industry in the long term.