Google to ban cryptocurrency ads

Google headquarters in Mountain View California

Google headquarters in Mountain View California Stephen Shankland CNET

Google will ban advertisements promoting cryptocurrencies and initial coin offerings from June.

The largest cryptocurrency by market value Bitcoin, pared an advance of about 2 per cent after Google's announcement.

An example of this is their Adsense policy introduced in late 2016 to take action on ads on misrepresentative content. Google have had long-standing policies prohibiting AdSense publishers from running ads on sites with dishonest content.

In January, Facebook took a similar step by blocking advertisements for cryptocurrencies. Like this way, Google team has made a decision to block the cryptocurrency ads from June.

The UK's top regulator the Financial Conduct Authority (FCA) released figures pointing towards a loss of £87,410 per day to binary options scams a year ago. Google said Tuesday that it would join Facebook in banning advertising for Bitcoin and other cryptocurrencies on its services and advertising platforms. A Google spokeswoman said the company's policies will try to anticipate workarounds like this.

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Google took down more than 3.2bn "bad ads" past year in an effort to prevent its enormous advertising network from being used for nefarious purposes, up from the 1.7bn it removed in 2016.

Google is also accelerating a push against misleading content.

And it's working! In 2017, Google noticed that this specific type of scam steadily declined on their networks as the year progressed: In a single month in 2016, they reviewed more than 1,200 sites for potentially violating their new misrepresentative content policy and terminated 200 publishers.

Speaking to selected journalists via Video Conferencing on Monday, Monetized Products, Google Trust and Safety, EMEA, Jessica Stansfield, said digital advertising plays an important role in making the web what it is today - a forum where anyone with a good idea and good content can reach an audience and make a living.

Bloomberg reported that the company suspended 7,000 customer accounts for ads that impersonated a news article-what Google calls "tabloid cloaking"-and blocked more than 12,000 websites for copying information from other publications".

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