Musk's acquisition of Twitter increases the likelihood of changes to Twitter's existing crypto policies.
Twitter had an explicit policy on cryptocurrency since 2018.
The crypto community anticipates a slew of changes to Twitter's upcoming crypto policy.
Became optimistic about the integration of a crypto payment solution on the platform as well as the upgradation of existing Twitter’s crypto policy.
As a result, just days after Musk's acquisition, Twitter announced that users will be able to buy, sell, and display non-fungible tokens (NFTs) directly through Tweets in partnership with four marketplaces.
This move led industry experts to believe that this acquisition deal clearly reflects Musk's intention to transform the platform into a Web3 and digital assets ecosystem.
Twitter had an explicit policy on cryptocurrency since 2018, long before most of us realized that we should probably hold bitcoin for a few more years. However, in mid-2021, Twitter amended its existing policies to include support for certain NFT-related ads, as well as the ability for crypto companies to run paid ads.
In September 2021, Twitter also released a tipping feature, which enabled Bitcoin as another accepted form of payment. In addition, regional differences can also be found in Twitter's crypto policy.
In contrast to this, experts and community members argue that Twitter's future crypto policy should be uniform across regions and that it should expand its tipping functionalities.
Over the last few days, Musk has been at the head of some important policy changes on Twitter. This has resulted in a few account suspensions as well as a lot more turmoil.
Recently, Twitter announced policy changes, stating that accounts created solely to promote other social media platforms would be prohibited. However, this resulted in the suspension of one of the most prominent accounts, prompting Musk to intervene and announce that he would make a few changes to the policy mere hours after its implementation.
These rapid changes in Twitter policy have also made it tough for users and advertisers to stay consistent. It has also created significant unpredictability in terms of content.
The first is the integration of a cryptocurrency payment solution on the platform, which will accept a variety of cryptocurrencies as payment options. The second is a change in crypto advertising policies, which are currently restricted to several nations.
Another is the inclusion of more cryptocurrency alternatives in Twitter tipping services. Policies should also include the promotion of blockchain games involving NFTs, as well as crypto tokens.
However, considering Musk's recent Twitter poll asking users "should I step down as CEO of Twitter," the chances of upgrading Twitter's crypto policy are doubtful.
What do you think, will the crypto community witness a shift in Twitter's existing crypto policy? Will Twitter ever integrate a crypto payment solution in the future? Share your thoughts in the comment section below.
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