(CNBC) — 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."
Possibilities of a ban were reported last week. Bitcoin prices fell near the $7,000 level following that news, then recovered $700 in less than three hours the same day.
Advertisement - story continues below