With a change of policy, Google has announced a new hardline approach with a crackdown on cryptocurrency-related advertising.
The following excerpt from Google’s ‘new restricted financial products policy’ reads the ban extends to:
Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice).
Restrictions on some financial products including contracts for difference (CFDs), forex rolling spots and financial spread betting - all seen as high-risk products.
Google's director of sustainable ads Scott Spencer explained to CNBC:
“We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution.’
Furthermore, Google also said aggregator and affiliates using Google ads will no longer be allowed to host promotional material related to cryptocurrencies.
Source: ccn.com