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Twitter will ban most cryptocurrency-related ads

The Twitter application is seen on an iPhone in this photo illustration on December 4, 2017. Photo: Jaap Arriens / NurPhoto via Getty Images

Twitter plans to ban most cryptocurrency-related ads in the next few weeks, as Sky News first reported and a source confirms to Axios. Twitter declined to comment.

Why it matters: The recent boom in cryptocurrencies and digital tokens has unsurprisingly attracted some fraudsters. Twitter is following in the footsteps of Facebook and Google, though it's been having its own problems with accounts promoting scams. On Friday, the Federal Trade Commission said it has shut down the activities of four people who were promoting cryptocurrency scams via social media, YouTube videos, and websites.