Google's ban will cover Google's Ad Words advertising products and YouTube, blocking adverts on cryptocurrencies including so-called initial coin offerings (ICOs). "This year, we updated several policies to address ads in unregulated or speculative financial products like binary options, cryptocurrency, foreign exchange markets and contracts for difference", said Google.
While Google did not provide a backdrop to the reasons it banned cryptocurrency ads, they are likely to be the same to the ones cited by Facebook -misleading ads being abused to drive traffic to financial scams and phishing sites.
LONDON - Google plans to ban all cryptocurrencies and binary options adverts, and is cracking down on ads for other speculative financial instruments.
"Advertisers offering Contracts for Difference, rolling spot forex, and financial spread betting will be required to be certified by Google", the post says. We already knew that Google made a lot of efforts previous year to keep bad ads off the web, but now the company's shed light on just how many violations it dealt with. Some enthusiasts online saw Google's decision as a good thing, but there's little doubt the move will slow the progress of building a legitimate industry around cryptocurrencies.
The bitcoin mania which has erupted a year ago, has attracted many con-artists and bad actors who used online advertising to generate revenue.
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Google is banning ads related to cryptocurrency from its vast advertising network, effective in June. Now it has got about updating Google's policy which will ban risky financial products. Google, in its trust and safety ads report, has said that it took down more than 3.2 Bn ads in 2017 that violated its policies, which is almost double the 1.7 Bn number it removed the year before.
Technology: Their technology helps to detect policy violations, new threats and disable those threats, the majority of which are done before people, publishers and advertisers are ever impacted.
Mr. Spencer said in his blog post from earlier today that Google has updated its gambling advertising policies to include newly emerged methods of gambling, that is gambling with items that have "real-world value".
"This new technology has been critical in helping to scale enforcement for policies that prohibit monetisation of inappropriate and controversial content", she said.
Google's ad network operates at a massive scale. It blocked 79m ads for automatically sending people to malware-laden sites and removed 400,000 of these unsafe sites.