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Google Bans Cryptocurrency Ads

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A Bitcoin cryptocurrency coin (Photo by Artyom GeodakyanTASS via Getty Images)

From June, all ads for cryptocurrencies and initial coin offerings will disappear from Google, in a move to get rid of what the company calls ‘unregulated or speculative financial products’.

Google says that it aims to purge the site of ads for cryptocurrencies, binary options, foreign exchange markets and contracts for difference (CFDs) as well as initial coin offerings (ICOs), whereby new cryptocurrencies are launched using crowdfunding.

The move will affect ads appearing alongside search results, as well as those on YouTube and those placed on third-party sites via the company’s ad platforms.

The company is following in the footsteps of Facebook, which recently introduced a similar ban, saying that the ads were being used to mislead its users; it’s even been suggested that the move comes following pressure from the FBI.

Just yesterday, Christine Lagarde, who heads the International Monetary Fund, warned that “The rapid growth of crypto-assets, the extreme volatility in their traded prices, and their ill-defined connections to the traditional financial world could easily create new vulnerabilities.”

Google’s move has cearly been in the offing for some time. Advertisers have been complaining for weeks on Google’s support page that the company has already been pulling ads for blockchain products, while other ads have been restricted to certain geographical areas.

The new policy has been announced on Google’s AdWords support page, which lists the financial products affected. They include binary options and the like, along with cryptocurrencies and related content such as initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets and cryptocurrency trading advice.

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A Bitcoin cryptocurrency coin (Photo by Artyom GeodakyanTASS via Getty Images)

From June, all ads for cryptocurrencies and initial coin offerings will disappear from Google, in a move to get rid of what the company calls ‘unregulated or speculative financial products’.

Google says that it aims to purge the site of ads for cryptocurrencies, binary options, foreign exchange markets and contracts for difference (CFDs) as well as initial coin offerings (ICOs), whereby new cryptocurrencies are launched using crowdfunding.

The move will affect ads appearing alongside search results, as well as those on YouTube and those placed on third-party sites via the company’s ad platforms.

The company is following in the footsteps of Facebook, which recently introduced a similar ban, saying that the ads were being used to mislead its users; it’s even been suggested that the move comes following pressure from the FBI.

Just yesterday, Christine Lagarde, who heads the International Monetary Fund, warned that “The rapid growth of crypto-assets, the extreme volatility in their traded prices, and their ill-defined connections to the traditional financial world could easily create new vulnerabilities.”

Google’s move has cearly been in the offing for some time. Advertisers have been complaining for weeks on Google’s support page that the company has already been pulling ads for blockchain products, while other ads have been restricted to certain geographical areas.

The new policy has been announced on Google’s AdWords support page, which lists the financial products affected. They include binary options and the like, along with cryptocurrencies and related content such as initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets and cryptocurrency trading advice.

Let’s block ads! (Why?)


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