Google to Ban Crypto Ads in A Few Months

Google to Ban Crypto Ads in A Few Months

The tech titan Google is taking a hardline stance on advertisements which promote cryptos and its brethren. The restrictions are to take place already in three months from now, the company announced in its official post.

Following the Example of Facebook

Just one month ago another communication giant Facebook notified about its intentions to ban all ads related to cyber money, giving no space even to legitimate companies trying to promote their crypto products or services.

This time the crypto world has been shaken up by Google. It plans to taboo virtual money-related ads in the frames of altering its policies on ads in the sphere of financial services. In particular, users of Google are not going to see the following ads since this year June:

  • about ICOs
  • concerning crypto wallets
  • regarding trading pieces of advice
  • concerning crypto trading venues (known as exchanges)

What Does The Ban Mean?

Besides the fact that crypto enthusiasts, who use Google, will no longer see crypto-related ads, which could be run by scammers, they also won’t encounter ads promoting legal crypto offerings.

Moreover, this kind of ads won’t be seen on other websites, where advertisements are usually placed via Google’s ad services.

But Why?

According to the words of the director of sustainable ads at Google, Scott Spencer, the company is not sure about the direction that cyber money is going to push the world to in the future.

However, as he explained to CNBC, Google has already observed how much and of which kind of harm people experienced on the market of cryptos. So to prevent any further scamming cases, the company decided to crack down on the ads.

By the way, last year, as per Google data, it removed over 3.2 billion ads as they violated Google’s rules. It is nearly two times more than it was taken down in 2016. However, it remains unknown what is the fraction of crypto ads in these sums.