Google To Ban Bitcoin Advertisements Amid Cryptocurrency Crackdown

After Facebook, Google bans ads on unregulated cryptocurrencies, foreign exchange markets

Google bans cryptocurrency adverts

The new policies, which also ban other complex financial products, will go into effect in June.

Google is to ban cryptocurrency adverts following a similar move by Facebook that sees the two giants of online advertising blocking controversial cryptocurrency promotions. Google confirmed its plans in its latest "bad ads" report, where it revealed that over the course of 2017, it took down 3.2 billion advertisements that violated its policies. This year it will address "ads in unregulated or speculative financial products", according to a separate statement from its director of sustainable ads, Scott Spencer.

Stansfield said that Google was constantly updating policies as new threats emerged, adding that in 2017, 28 new advertiser policies and 20 new publisher policies were added to combat new threats and improve ad experience online. Both Facebook and Twitter have now taken steps to clamp down on cryptocurrency scams prevailing on their social networks. "We removed 66 million "trick-to-click" ads as well as 48 million ads that were attempting to get users to install unwanted software", the company said.

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It will also affect those placed on third-party sites via its ad platforms.

The company also said it reviewed more than 11,000 sites for suspected violations of its policies on misrepresenting content; more than half were blocked, and 90 publishers had their accounts closed. Presently, Google queries for keywords like "buy bitcoin" and "binary options" produce 4 ads at the top of the results.

This policy comes some weeks after Facebook announced, as documented by News.Bitcoin.com, "As of a new ruling issued on January 30, 'ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency".

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The power is used to mine cryptocurrency - a digital form of money that has no government or central-bank printing it or standing behind it.

Google has finally confirmed that as of June 2018, it will restrict the use of its AdWords platform to advertise cryptocurrency-related products and services.

We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception. This means that the $233 million (USD) invested in these cryptocurrencies has led to no returns for investors. But Google said it had not made any policy changes at that point.

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