Under Google's newly updated financial products policy, no advertisements for "cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)", will be accepted.
LONDON - Google plans to ban all cryptocurrencies and binary options adverts, and is cracking down on ads for other speculative financial instruments. It does appear that Google will create a certification process that may enable future ICO / Crypto related services.
Mr. Spencer's blog post also contained information about the number of ads taken down by Google over the course of 2017.
Facebook called this, an effort by the company to prevent people from advertising "financial products and services frequently associated with misleading or deceptive promotional practices".
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It is also restricting ads that promote binary options and synonymous products.
Google is making a timely change to its advertising policy.
We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception.
Bitcoin and other cryptocurrencies are notoriously volatile and governments are also clamping down on the digital tokens to thwart its expansion. The company says it removed over 3.2 billion ads in 2017, and while it does not give a precise reason for the cryptocurrency ad ban, it says it is part of "improving the ads experience across the web". Another report suggested that Google was "quietly purging cryptocurrency ads" and suspending accounts.
The price of bitcoin - the most heavily traded cryptocurrency - slipped by about 1.5% following Google's announcement, according to data from Coindesk.
The company removed thousands of bad ads and websites from its advertising network previous year as it improved the technology it uses to police its system.