Google will ban all cryptocurrency ads starting in June 2018 ?
Google has recently updated its Financial Services Policy : starting from June 2018, the company will forbid any kind of announcement related to cryptocurrencies.
The news of the new ban comes a few days after the cryptocurrency advertisers have seen a drastic decline in the number of views of their advertising on Google AdWords. However, the company promptly denied that it would make any changes to the Financial Services Rules to block cryptocurrency and Initial Coin Offering (ICO) ads .
According to the new Google directives, no announcement for " cryptocurrencies and related content (including, but not limited to, initial money offerings, exchanges of cryptocurrencies, cryptocurrency portfolios and advice on investments in cryptocurrencies) " will be accepted on the platform.
This choice applies to all advertising products of Google: this means that the company will not show ads related to cryptocurrencies neither on the search engine portal, nor within the third-party sites of the network.
Scott Spencer, the Director of Sustainable Ads at Google, today announced to CNBC :
"We do not have a crystal ball that shows us how cryptocurrencies will behave in the future, but we have seen enough users and potential consumers damaged by activities in this area, and we want to approach the problem with extreme caution."
Facebook has already banned ads related to the cryptocurrency sector in January this year, citing potential " deceptive promotional practices ".
It seems that the cryptocurrency ads have also disappeared from Chinese social media, following the ban on the part of the country of exchange and ICO .
Image source: Goggle