Twitter joins Facebook and Google in tightening cryptocurrency advertising rules, Bitcoin drops below $8,000

Twitter has become the latest tech giant to ban advertising of cryptocurrency on its platform, sending Bitcoin’s value below $8,000.

The company told Reuters today that it will not allow promotions for initial coin offerings (ICOs) or cryptocurrency wallet services, following the likes of Google and Facebook which have taken similar actions recently.

Some crypto-exchanges will still be allowed to advertise, but most will be covered by the ban.

It comes just weeks after Google clamped down on cryptocurrency ads with new policies for its advertisers. Facebook banned crypto ads in January, saying that too many were misleading its users.

Bitcoin is currently trading at about $7,930 after falling below $8,000 for the first time in over a week.

Regulatory uncertainty is also affecting the global cryptocurrency market, with world leaders at the G20 last week expressing concern that the technology could affect financial stability.

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