Google will ban all types of advertisements related with cryptocurrency in June 2018, according to the recent report on their Financial Services policy.
The crypto ad ban news comes a few days after advertisers of digital currencies using Google Adwords realized a significant drop in the number of their advertisement views, as per the Adwords support pages. Nonetheless, Google Adwords had denied changes in its Financial Services regulations associated with blocking Initial Coin Offering (ICO) or cryptocurrency related advertisements.
Under the new financial products policy of Google, from June 2018, there is no kind of cryptocurrency advertisement or related content which will be accepted by the company. These include but not restricted to initial coin offerings, cryptocurrency wallets, cryptocurrency exchanges, and cryptocurrency trading advice.
The move affects all Google's ad products. Thus, companies will not be able to promote their crypto-related activities on the giant search engine site, including its third-party sites in its system.
Concerning the new policy, a financial from Google said, “We don’t have any crystal ball to know about the future of cryptocurrencies, but we have witnessed enough harm to consumers, and that’s a sector we would like to approach with great caution.”
“Facebook already banned cryptocurrency related adverts in January this year, citing the likelihood of “deceptive promotional practices.”
Likewise, cryptocurrency advertisements have reportedly been missing from Chinese social media websites amidst China’s ban on crypto exchanges and ICOs.
