There is more trouble for cryptocurrencies that are already loosing grounds.

Twitter Inc has joined Facebook and Google in a clampdown on the nascent industry.

It said in a statement on Monday that it would ban most advertising of cryptocurrencies on its platform.

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The San Francisco-based firm will this week launch a policy that prohibits advertising of initial coin offerings (ICOs), a form of crowd funding used to raise cash by creating new coins.

Also, adverts that promote token sales and crypto wallet services would not be allowed, the company said in a statement.

The policy will also ban adverts from crypto-exchanges, with some limited exceptions, Reuters reported.

The soical network said this month it was taking measures to prevent crypto-related accounts from "engaging with others in a deceptive manner", but it has faced calls to go further after bans by Facebook and Google.

Also Read: Stay Away From Cryptocurrency, NDIC Tells Nigerians

Facebook restricted crypto-related adverts in February, while Google announced a ban on March 14 that comes into force in June

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