Google to Ban Crypto Ads

Google to Ban Crypto Ads

Google to Ban Crypto Ads

The update to Google's policies was accompanied by the release of its yearly "bad ads" report, in which the corporation calculates the number of malicious and deceptive ads that pop up in its search and video network. Since the parent company Alphabet's 84% of the total income depends on ad revenues, Google appears to be ultra careful about the means.

Google told Bloomberg that it will have systems in place to detect such workarounds.

Google has not explained in details the reasons of its ban, but the new policy comes simultaneously with USA regulators' effort at both state and federal levels in cracking down ICOs that appear dubious in the government's view.

Back in January, Facebook banned advertisements of cryptocurrencies and ICOs from all crypto exchanges, afterward Twitter started crackdown against crypto scammers. The company will also begin blocking some gambling ads, such as those for services using virtual items worth real-world money, known as skins betting, as it seeks to "combat new threats and improve the ads experience online".

Google will roll out updated policies on advertising in June and these would include a ban on adverts for cryptocurrencies, initial coin offerings, cryptocurrency exchanges and wallets, and trading advice.

Under the new policy, the company will ban ads for unregulated or speculative financial products like binary options, cryptocurrency and financial spread betting among others. However, some aggressive businesses have found a way of bypassing the ban: purposely misspelling words like "bitcoin" in their ads. "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. Google's policies will try to take precautions around tactics like this, the company said.

In 2017, Google said it removed 320,000 bad publishers from its ad network, and blocked 90,000 websites and 700,000 mobile apps for policy violations.

Google zapped past year more than three billion ads, nearly twice that of 2016.

And that focus is being directed towards crypto advertising as well as other unregulated financial products such as binary options.

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