Snapchat has officially confirmed ICO advertising on their platform is banned
- Social media platform Snapchat has banned ICO ads from their platform.
- Crackdown across the social media sector with ICO advertisements.
The social media company Snap Inc. has confirmed that no Initial Coin Offering (ICOs) advertising will be allowed on their Snapchat platform. This is following on from several other platforms enforcing the same type of ban.
In the last week or so, the likes of Google, Facebook and Twitter, some of the biggest names across the social platforms sector and everyday use sites, are cracking down on ICOs specifically. This comes as there have been a countless amount of regulatory bodies and authorities, express their concerns with this market.
An Initial Coin Offering is a mechanism of which companies and projects use to raise funds, tokens are sold in exchange for cryptocurrency such as Bitcoin and Ether. ICO popularity boomed, however has come under heavy scrutiny this year, given the large number of scams within the industry.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
