undergroundnewsroom.com April 22, 2018

Ads for cryptocurrencies are no longer welcome on Google

15 March 2018, 05:46 | Gordon Grant

Google to ban all bitcoin or cryptocurrency ads from June

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

"In 2017, we took down more than 3.2 billion ads that violated our advertising policies". Under the new guidelines, Google said that starting in June, several types of financial-related ads would be banned from its sites, including "cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)". A Google spokeswoman said the company's policies will try to anticipate workarounds like this.

The updated policy from Google was made available with its release of the annual "bad ads" report, which reviews the number of deceptive, malicious as well as controversial ads that Google eliminates from its massive display, search and video network.

It adds that ads for aggregators and affiliates will also not be able to serve, among other things, cryptocurrency advertisements. "We removed 66 million "trick-to-click" ads as well as 48 million ads that were attempting to get users to install unwanted software", the company said.

According to the official, Page-level enforcement technology allows better protection of advertisers by removing more bad ads from more sites while minimising the impact on legitimate publishers.

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The internet giant is restricting ads that are for financial products such as binary options, which is a risky derivative with a payoff of all or nothing. Scammers are using "crypto-jacking" or putting lines of code in websites or ads to surreptitiously harness the computing power of the web surfers who look at them.

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

Where it is unlikely that the upcoming ban on cryptocurrency ads would have any serious impact on Google ads sales, the ban would be of great help to unsuspecting and novice investors to protect them from companies who are advertising binary options, ICOs and cryptocurrencies that are not now operating in good faith.

The decision by Google will affect publishers and ICO promoters in the crypto industry because crowdsale advertising by blockchain projects is all-pervasive on crypto websites, although marketing spend will probably shift further in the direction of sponsored content publishing, a trend seen in the wider online advertising industry. This means that the $233 million (USD) invested in these cryptocurrencies has led to no returns for investors.

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