Ads On Cryptocurrency, ICOs, Exchanges, Wallets Banned By Google

Ads On Cryptocurrency, ICOs, Exchanges, Wallets Banned By Google

The ban is part of a new financial products policy, that Google announced March 14 and applies also to advertisers that offer so-called Contracts for Difference, financial spread betting and certain kinds of foreign exchange transactions.

Google said it removed more than 3.2bn ads that violated its policies in 2017, blocking what it described as the "majority of bad ad experiences", including malvertising and phishing scams.

According to the announcement Google has made on Wednesday morning in a blog, the company wants to join Facebook's action of banning on advertisements as well as contents related to the crypto currency that comprises initial coin offerings (ICOs), trading advice and wallets.

Facebook said its policy prohibiting crypto advertising was "intentionally broad" but added that it would revisit the policy "as our signals improve".

Google said it updated its policies, expanding its policies in April to cover forms of discrimination and intolerance beyond hate speech protections. that led to the removal of Google ads from 8,700 pages.

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"We equally removed 66 million "trick-to-click" ads as well as 48 million ads that were attempting to get users to install unwanted software".

Last year, for instance, Google pulled 79 million ads for luring online clickers to websites with malware. That's more than 100 bad ads per second! "Throughout all of 2017, we reviewed over 11,000 websites for potentially containing misrepresentative or misleading content and we suspended more than 650 websites and terminated 90 publishers from our ad network". 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 company said it also blocked nearly 90,000 websites and 700,000 mobile apps for violating its policies.

Google has finally confirmed that as of June 2018, it will restrict the use of its AdWords platform to advertise cryptocurrency-related products and services.

"That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not now operating in good faith", said Rob Leathern, Product Management Director at Facebook. The social networking giant updated its ad policy in January to ban financial products often associated with deceptive practices, including those involving cryptocurrencies such as bitcoin.

Aside from scams, governments are also beginning to step in with plans to regulate cryptocurrency over fears that it is being used to fund criminal activity.

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