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Alphabet Inc’s Google said on Wednesday it will ban advertisements for cryptocurrencies and related content starting in June.
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. It will no longer advertise “Binary options and synonymous products” and “cryptocurrencies and related content”. This includes ads about initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice, the company has said.
In a separate blog post, Google said it took down 3.2 billion ads that violated its advertising policies in 2017, nearly double the number of ads it removed in 2016. The company said that they have removed 79 million ads for attempting to send people to malware-laden sites. They removed 66 million “trick-to-click” ads and 48 million ads that were attempting to get users to install unwanted software, the company said.“Improving the ads experience across the web, whether that’s removing harmful ads or intrusive ads, will continue to be a top priority for us,” Scott Spencer, director of sustainable ads, said.
In January, Facebook Inc said it will ban ads promoting financial products and services tied to cryptocurrencies and initial coin offerings. The policy will be implemented across its platforms, including Facebook, Audience Network and Instagram, the company said.
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