"The policy will be fully enforceable among all advertisers within a month", Twitter said, adding that all ICOs and token sales would be banned, and cryptocurrency exchanges and wallets would be restricted to only public companies listed on major stock markets.
In a statement, the company said it was committed to making sure that its community was safe.
Cryptocurrency-related ads are now blocked on Twitter. As such, we have added a new policy for Twitter Ads relating to cryptocurrency.
Banning cryptocurrency-related ads follows Facebook and Google's announcement that they would ban advertisements for cryptocurrencies and other "speculative financial products" across their ad platforms.
Following this news, Bitcoin fell around 7% on Monday to below $8000. News of the Facebook and Google bans also knocked the price.
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.
A Twitter spokesperson states that this action is due to the fact that most crypto related contents and ads are often connected to fraud and deception.
Advertising of cryptocurrencies has boomed as demand for investing in them soared, with everything from London's transport network to Japanese television featuring adverts for the virtual coins or ways to trade them.
Bitcoin being the top crypto has undergone a great fall this week. In January, this year, he had tweeted, "Instant buying (and selling, if you don't want to hold) of Bitcoin is now available to most Cash App customers". As it turns out, that isn't the only thing Twitter is going to do to cut back on the amount of cryptocurrency spam on its platform, as it will soon be restricting certain ads as well.