After Facebook, Google has also decided to crack down on the cryptocurrency related advertisements on their ad networks. This action will help the company to discourage unregulated financial products on their network.
The ad ban will come into force from the month of June.
“We updated several policies to address ads in unregulated or speculative financial products like binary options, cryptocurrency, foreign exchange markets and contracts for difference (or CFDs).” Google’s director of sustainable ads, Scott Spencer, said in a blog post.
The ban will cover all of the following types of products:
- Cryptocurrency exchanges and wallets
- Gambling ads (skins betting)
“As consumer trends evolve, as our methods to protect the open web get better, so do online scams,” said Scott.
He added “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.”
Following the announcement by Google, Bitcoin, and other cryptocurrencies fall below 5% and these include Ethereum, Ripple, Litecoin, Monero, IOTA.
But interestingly industry experts have a different take on the whole crypto ads banning scenario.
“It’s a good thing for the industry,” Brian Kelly, CEO of BKCM digital asset fund, told CNBC. “Facebook and Google ads were always a red flag for me. It’s not having any impact on price.”
Source: The Guardian