Google to ban all crypto-related advertising

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

That said, Google isn't the first platform to ban cryptocurrency advertising.

The updates are created to protect users from "ads in unregulated or speculative financial products", Google's director of sustainable ads Scott Spencer said in a March 14 blog.

After the regulator from different countries, it was the turn of Alphabet Inc (NASDAQ:GOOGL) to ban all cryptocurrency related advertising like the initial coin offerings (ICOs) or content.

LONDON - Google plans to ban all cryptocurrencies and binary options adverts, and is cracking down on ads for other speculative financial instruments.

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"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", Spencer said.

In a move to prevent users from falling prey to cryptocurrency scam ads or investing in dodgy initial coin offers (ICOs), Google said that it will ban cryptocurrency-related content from its AdWords platform from June.

Advertisers can request certification with Google starting March 2018 when the application form is published.

Google, makes nearly 84% of its total revenue from ads, so its announcement to ban any advertising regarding initial coin offerings (ICOs), trading advice and wallets, is weighted.

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Google took down more than 3.2 billion ads in 2017, according to its latest "bad ads" report, up from 1.7 billion the previous year and equating to 100 ads removed per second.

Google's hard-line approach follows a similar ban that Facebook announced earlier this year.

Bitcoin, Ethereum, and Ripple prices dropped after Google made the announcement on Wednesday. While Facebook's policy was left intentionally broad in order to accommodate for a growing and evolving list of deceptive practices and keyword terms, Google's advertising changes target specific phrases more specifically. We blocked 79 million ads in our network for attempting to send people to malware-laden sites, and removed 400,000 of these unsafe sites a year ago. "There are many companies who are advertising binary options, ICOs and cryptocurrencies that are not now operating in good faith", said Facebook Product Management Director Rob Leathern earlier this year.

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