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With a policy change, Google has announced a radical new approach with a crackdown on advertising related to the cryptomonnaie.
In June 2018, Google will ban online advertising promoting any content related to cryptocurrency as part of its new financial services policy that introduces restrictions on a handful of financial products, including CFDs, spreads bets – all considered high risk products.
Aside from these binary options, an excerpt from Google’s “New Restricted Financial Products Policy” states that the ban extends to:
Cryptocurrencies and related content (including, but not limited to, initial coin offerings, cryptocurrency trading, cryptocurrency portfolios and trading advice cryptocurrency)
In addition, Google also stated that the aggregator and affiliates using Google ads will no longer be allowed to host promotional material related to cryptocurrencies. In other words, Google is turning off cryptographic advertising on its own website as well as third-party websites using its advertising products. The ban, which aims to eliminate scams in the crypto space, will also impact legitimate or “regulated” businesses that offer cryptocurrency services.
When addressing CNBC, Google’s director of sustainable advertising, Scott Spencer, explained this measure as a precautionary measure to protect consumers.
“We do not have a crystal ball to know where the future goes with cryptocurrencies, but we’ve seen enough damage to consumers or risks to consumers that it’s 39 is an area we want to approach with extreme caution. “
This policy change comes in addition to the annual report of the “bad announcements” of the announcement giant that indicates that more than 3.2 billion ads have been withdrawn in 2017 to have violated Google’s advertising policies. Google also said that it had blacklisted 90,000 websites and 700,000 mobile apps in violation of publisher policies.
The Google ban follows a similar move by Facebook, which banned cryptocurrency-related advertising in early January. Facebook has blamed “deceptive or deceptive promotional practices” adopted by companies that promote initial offers of coins or cryptocurrencies while updating its voluntarily broad policy change that will expand to other platforms Facebook as Instagram. “We will review this policy and how we apply it as our signals improve,” said Facebook at the time.
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