Daily Trends Now
Daily Trends Now


Google Banning Ads for Cryptocurrency and Initial Coin Offering

Google Banning Ads for Cryptocurrency and Initial Coin Offering

Google plans to ban all advertisements for cryptocurrencies and related content starting in June, Reuters reported.

Scott Spencer, director of sustainable ads, issued Tuesday's blog post, stating that Google has updated its policies to address advertisements in "unregulated or speculative financial products".

In Google's yearly trust and safety advertising report, the company said it took down 3.2 billion ads previous year that it found to be in violation of its policies, a jump from the 1.7 billion it took down in 2016. It is estimated to bring in more than $40bn in ad revenues over the course of 2018, nearly half the entire global $94bn market, beating Facebook, which earns $22bn, into second place.

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.

These pages published a few days ago, "anecdotal reports of several companies operating in the initial coin offering (ICO) industry, Google is taking steps to restrict the visibility of ICO advertising on its platforms".




Facebook, Google's primary rival for ad dollars, banned ads for cryptocurrencies in January.

It's unclear what long-term impact the moves by Google and Facebook-by far the two largest advertising platforms on the Internet-will have on the crypto-currency market. Maintaining a data base of such a huge scale is no easy task even for the world's best tech company like Google.

"We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception", the Facebook statement read.

Google has not explained the reasoning behind the ban, however there has been a broad crackdown on the marketing of cryptocurrencies and other high-risk financial products. Google is also honing in on adverts promoting gambling and ads that make a song and dance about health products and schemes that are rather illegitimate. The downside is that the "Google certification process" will only be available for advertisers located in "certain countries". The number includes 7m ads that were attempting to send people to malware-laden sites, 66m "trick-to-click" ads and 48m ads that were attempting to get users to install unwanted software.

Google introduced new technology - called page-level enforcement - that allows us to remove Google ads from over 2 million URLs each month.

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