Google to ban crypto-related adverts from June

Google to ban crypto-related adverts from June

Google to ban crypto-related adverts from June

Facebook at the time described the move as a response to the proliferation of misleading ads for crypto-currencies and similar financial products.

Big G noted that there are more than three billion ads in violation of its policies, some of which are used to promote non-existent funding rounds for emerging cryptocurrencies.

The news of the ban on cryptocurrency ads emerged with the publication of Google's Trust & Safety Ad Removals report for 2017.

GOOGLE IS GETTING GRUMPY about cryptocurrencies and will ban adverts about them come June.

"Google's ban on cryptocurrency-related advertising is only more validation for this new asset class. Governments and now media outlets are attempting to "protect" the public from this burgeoning asset class when in reality, the global populous is moving forward without them".

Google introduced new technology previous year that allows it remove Google ads from pages rather than a whole site, a move that has seen it penalise more than 2 million web URLs every month.

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In a move to prevent users from falling prey to cryptocurrency scam ads or investing in dodgy initial coin offers (ICOs), Google said that it will ban cryptocurrency-related content from its AdWords platform from June.

Google outlined the changes in an update to its financial services products policy, adding that the new regulations will extend to aggregators and affiliates using its services - meaning third-party sites will also be affected.

This will mean companies can no longer serve ads for "cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)". However, some aggressive businesses have found a way of bypassing the ban: purposely misspelling words like "bitcoin" in their ads. Google's policies will try to take precautions around tactics like this, the company said.

Google did not provide a list of countries, but said the advertisers will have to be licensed by relevant financial services and "comply with relevant legal requirements, including those related to complex speculative financial products". Google LLC said it removed more than 3.2 billion ads from the web in 2017 of which 79 million ads were scrubbed for luring online clickers to websites with malware.

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

Advertisers offering rolling spot forex, contracts for difference, and financial spread betting now must have certification from Google to place their ads through AdWords.

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