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

Google follows Facebook in banning ads for cryptocurrencies

Facebook called this, an effort by the company to prevent people from advertising "financial products and services frequently associated with misleading or deceptive promotional practices". Google has announced that it will no longer allow cryptocurrency-related ads on its platforms.

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.

Google said it is banning ads from affiliates and aggregators who serve this market. In 2017, Google blocked 650 sites for running ads alongside fake content, 12,000 sites for scraping or copying content from other sites, and suspended 7,000 AdWords accounts for tabloid cloaking violations (running news headlines but redirecting users to sites that sell dubious products).

Companies looking to advertise rolling spot forex and financial spread betting will also now need certification from the company in order to advertise through AdWords.

She said that Google pulled out the bad ads with the aid of policies, technology and people.

Google pulled out 3.2 billion bad ads from sites in 2017, an official, Ms Jessica Stansfield, said in Lagos on Wednesday. "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.

In a blog post on Tuesday, Google announced that it would follow in Facebook's footsteps and ban cryptocurrency ads from its network, beginning in June.

The move comes as part of Google's report on banning bad adverts, where is revealed that in 2017 it removed 100 "bad ads" per second.

Google introduced new technology past year that allows it remove Google ads from pages rather than a whole site, a move that has seen it penalise more than 2 million web URLs every month.

Google also removed more than 130m ads previous year for trying to abuse its ad network through malicious activity.

We're constantly updating our policies as we see new threats emerge.

Google's new policies are not restricted only to cryptocurrencies, but also various gambling products and services. The policy will be implemented by June this year. In a clear warning to non-compliant ad authors and publishers, the company said "you have to play by rules" to make money from its ad platform.

Google's director of sustainable ads, Scott Spencer, said as consumer trends evolve and Google's methods to protect the open web get better, so do online scams.

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