Ban by Google on all adverts about cryptocurrency, to begin in the month of June this year. The ban includes all cryptocurrency related contents like Initial Coin Offerings and all unregulated or speculative financial products like binary options,foreign exchange markets and contracts for difference (or CFDs) to prevent misleading and involvement in scams.
According to Google the ban also includes cryptocurrency exchanges and wallets. The company will also begin blocking some gambling ads, in order to end all “new threats” in the virtual world and improve the ads experience online. “As consumer trends evolve, as our methods to protect the open web get better, so do online scams,” said Scott. “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.”
This change in google’s advertising policy will change entire google ad structure and offerings, which means you could not watch advertisements on sites that have set up Google ads, after the change comes into existence. Google is following in the footsteps of its advertising rival Facebook, which banned all cryptocurrency and ICO adverts in January after finding out that many adverts were being used to scam potential investors.
They are also claiming now,that they have removed around 1.7 billion in 2016 and 3.2 billion ‘bad ads’ in 2017 that violated their policies. This year they are going to be even more strict with the misleading ads.
The restriction will apply both to Google’s proprietary and affiliated advertisement platforms.The new policy has come at a time when regulators in the U.S. have been scrutinizing cryptocurrency projects deeply. Many of these projects attempt to sell persistently, a lot of unrealistic investment opportunities and promote themselves to investors over the internet. This indeed is a great move by Google and Facebook. However, it would have been even better if Google had placed the Ban immediately instead of waiting till June this year.