On Monday, March 26, Twitter joined other technology companies and social media outlets in stating that it would be banning the advertisement of cryptocurrencies on all Twitter platforms throughout the world.
Earlier this month, Google announced an update to its financial services policy that will restrict advertising for "cryptocurrencies and related content" starting this summer. All ICOs and token sales will be banned, but cryptocurrency exchanges and wallets will be restricted to only public companies listed on major stock markets.
Messaging app Twitter has banned bitcoin and other cryptocurrencies ads from today. "We will continue to iterate and improve upon this policy as the industry evolves".
"This policy covers, but is not limited to the following financial products and services...currency exchange, trading, and related services, cryptocurrency ICOs, [and] cryptocurrency token sales."
The cryptocurrency market was worth less than $300 billion on Tuesday, according to Coinmarketcap - an astounding $525-billion drop from the record value seen in January.
Google's ban on such advertisements would come into force from June.
With a low barrier of entry - only requiring a few lines of code to operate - cyber-criminals are harnessing stolen processing power and cloud CPU usage from consumers and enterprises to mine cryptocurrency.
Tatiana Moroz, the founder of Crypto Media Hub, told Bitcoin Magazine that filling the space left by the absence of advertising on the search engine and social media platforms will result in higher quality interactions through community involvement and relationship building. However, if significant regulatory action is taken by the U.S., the major cryptocurrencies could see a dramatic market decline. It is set thereby to curtail the online promotion of initial coin offerings, or ICOs, which are now a popular way to raise funds.