Google to ban cryptocurrency adverts
Google plans to ban all advertisements for cryptocurrencies and related content starting in June, Reuters reported.
“The company has “updated several policies to address ads in unregulated or speculative financial products like binary options, cryptocurrency, foreign exchange markets and contracts for difference (or CFDs),” Scott Spencer, Google’s Director of Sustainable Ads, said in a blog post on Wednesday.
The new policies ban adverts for binary options and “cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice).”
Google said it took down 3.2 billion ads that violated its advertising policies in 2017, nearly double the number of ads it removed in 2016.
“Improving the ads experience across the web, whether that’s removing harmful ads or intrusive ads, will continue to be a top priority for us,” Scott Spencer said.
In January, Facebook Inc said it will ban ads promoting financial products and services tied to cryptocurrencies and initial coin offerings.