Google to ban cryptocurrency-related ads and content from its platform

Google to Ban Ads for Cryptocurrency & Initial Coin Offering from June

The restrictions cover online advertisements for other risky financial services, too, including binary options.

The ban will be a sweeping one cutting across Goggle's ad products and services and other third parties on its vast network. In it, the company says it has updated its policies to "tackle emerging threats", and classifies cryptocurrencies under "unregulated or speculative financial products".

Facebook has also instituted a ban on crypto ads last February 1, citing a drive to remove "misleading or deceptive promotional practices" associated with them.

Google's updated policy includes its annual "bad ads" report, which shares numbers of malicious, deceptive and controversial ads the company scrubs.

Just as crypto and ICO promoters have found some way around Facebook ban by using terms such as "Bloomchain" the community will attempt to circumvent the latest Google ban.

Starting June, Alphabet Inc's Google will ban online advertisements promoting cryptocurrencies, initial coin offerings, financial spread betting, etc, the company said in a statement.

Google mentioned the move in a separate blog post about its advertising business.

The announcement follows something of a year of hell for Google, whereby the search giant faced a number of scandals related to brand safety, claims of Russian Federation fiddling with the U.S. election through its ad platforms and fraudulent traffic.

The ban on cryptocurrency advertisements follows a similar announcement made by Facebook's product management director Rob Leathern in January. However, certification will be subject only to select countries. The craze for cryptocurrency investment has also led to the proliferation of many fraudulent platforms and offerings that have successfully duped investors of their money.

Once news of Google's new policy began making the rounds, cryptocurrency markets didn't react very favorably.

In Google's yearly trust and safety advertising report, the company said it took down 3.2 billion ads past year that it found to be in violation of its policies, a jump from the 1.7 billion it took down in 2016.

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