Google to ban cryptocurrency, initial coin offering advertisements

Ads On Cryptocurrency, ICOs, Exchanges, Wallets Banned By Google

This means that even companies with legitimate cryptocurrency offerings won't be able to publish their advertisements via Google's ad platform, which places ads on its own sites as well as third-party websites.

Google said it updates its policies as it sees "new threats".

The ban is part of a new financial products policy, that Google announced March 14 and applies also to advertisers that offer so-called Contracts for Difference, financial spread betting and certain kinds of foreign exchange transactions.

In the same announcement, Google said it was also banning binary options, a financial instrument that either pays out a fixed amount (like a dollar figure or a share of stock) or else pays nothing.

From June, advertisers will be blocked from posting adverts on several other controversial financial products. But Google said it had not made any policy changes at that point.

Facebook took a step of a similar nature in January, which leaves the two biggest sellers of web advertising not within reach of the digital currency industry.

Prices for nearly all cryptocurrencies fell across the board today after Google's announcement, and most coins continued to lose value.

He wrote in a blog post: "We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception". Google is also honing in on adverts promoting gambling and ads that make a song and dance about health products and schemes that are rather illegitimate.

The company said it down more than 3.2 bn ads that violated its advertising policies in 2017, as well as blocking 79m ads in its network that attempted to send users to malware-laden sites. Bitcoin and other cryptocurrencies are volatile, so many governments are clamping down on the digital tokens. As per reports, while Google has not explained in details the exact reason behind the ban, but the new policy comes at a time, when regulators in USA have been keeping a hawk's eye on cryptocurrency projects that claim unrealistic investment opportunities. According to the policy, it will block all the advertisements related to "cryptocurrencies and related content".

The company removed thousands of bad ads and websites from its advertising network previous year as it improved the technology it uses to police its system.

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