Google will ban all advertising related to cryptocurrency of all types in June 2018, according to a recent update of its financial services policy.
News of a crypto advertising ban comes days after crypto advertisers using Google Adwords have noticed a drastic drop in the number of views of their ads, according to posts on AdWords support pages . However, Google Adwords then denied any changes to their Financial Services regulations that would block Crypto-currency or Coin Corner Coin (ICO) advertising
Under Google’s new policy on financial products, no advertising for “cryptocurrencies and Related Content (including, but not limited to, initial coin offerings, cryptocurrency exchanges, cryptocurrency portfolios and Cryptocurrency Negotiation Notices) will be accepted
to serve crypto advertisements on the search engine giant’s own sites, as well as on the third party sites of its network.
Scott Spencer, Director of Sustainable Ads at Google, said today at CNBC:
“We do not have a crystal ball to know where is going to go. future with cryptocurrences, but we have I’ve seen enough damage to consumers or it’s an area we want to approach with extreme caution.
Facebook had already banned crypto-related ads in January of this year, citing the potential for “misleading promotional practices.” “