Twitter set to join Google in banning cryptocurrency advertising

Twitter is reportedly about to join Google in banning cryptocurrency adverts. The social media site is "preparing to prohibit a range of cryptocurrency advertisements amid looming regulatory intervention in the sector", according to Sky News. The company is expected to prohibit advertising for initial coin offerings, token sales and wallets in order to protect consumers from scams. Google announced last week that it would be culling crypto-investment promotions from its search results from June as part of a crackdown on "deceptive content", a damning verdict on the emerging sector. That decision led to a downward slump in the value of all but two of CoinMarketCap's top 50 digicoins, underlining the volatility of virtual currencies and their susceptibility to wild fluctuations.