Twitter announced Monday that it will ban ads for cryptocurrencies. "Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally," Twitter said in its email statement, TechCrunch reported.
Bitcoin, the most well-known cryptocurrency on the market, has not escaped this announcement unscathed. On Monday, it was down about 6 percent from its closing price Sunday, CNBC reported. However, the overall market for cryptocurrency may not be affected much; less than 1 percent of the web traffic that exchange sites receive is from paid advertisements, The Verge reported.
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