Recently there has a been a surge of large online platforms banning cryptocurrency and/or ICO advertisements. At first it was Facebook, after that – Google's AdWords platform and now Snapchat joins their ranks.
According to reports, the Snapchat's parent compnay Snap Inc. has benn working on changing its policy since February 2018. The restriction imposed won't affect all the cryptocurrency-related ads, but token sales advertisements are outright banned from now on.
CoinDesk asked the Snapchat representative for further clarification and they confirmed the rumors:
The move makes Snapchat the latest social media platform to ban ads for cryptocurrency ICOs, an increasingly popular form of raising money by issuing virtual tokens instead of more traditional company shares.
The decision to ban only the ICO-related ads seems quite tame in comparison to Facebook and Google's policy on the matter. As usual, the rumors go on to state, that current ban was fueled, again, by US SEC repeated warnings about protecting users from scammers, raising money for non-existent start-ups. While the representative failed to either confirm or deny such claims, it seem quite possible that it was the case.