Google to ban cryptocurrency ads

Google has revealed plans to ban all advertising for cryptocurrency and other unregulated or speculative financial products from June, sending the price of Bitcoin down by more than 10%.

The company’s new financial services policy will ban adwords advertising for cryptocurrencies and related content, including initial coin offerings, as well as cryptocurrency exchanges, wallets and trading advice.

In addition, advertisers offering services including contracts for difference, financial spread betting and rolling spot foreign exchange (effectively foreign exchange futures) will need to receive certification before they can advertise through AdWords.

Certification, which will only be available in certain countries, will require advertisers to be licensed by the financial services authority in a country or countries being targeted and comply with legal requirements and AdWords policies.

“We’re constantly updating our policies as we see new threats emerge,” Google Director of Sustainable Ads Scott Spencer said in a blog post.

“Our work to protect the ads ecosystem doesn’t stop here — it’s ongoing. As consumer trends evolve, as our methods to protect the open web get better, so do online scams. Improving the ads experience across the web, whether that’s removing harmful ads or intrusive ads, will continue to be a top priority for us.”

Google’s decision follows Facebook’s move in January to ban ads promoting cryptocurrency and initial coin offering related products due to risks to users.

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