Google Will Ban All Cryptocurrency-Related Advertising

Alphabet Inc’s Google said on Wednesday it will ban advertisements for cryptocurrencies and related content starting in June

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.

Alphabet's Google will ban cryptocurrency and bitcoin advertising from June, the USA technology giant announced in a policy update Wednesday. Together, the web giants command about half of the world's online-advertising dollars, according to eMarketer.

In a blog post on Wednesday, Google's director of sustainable ads, Scott Spencer, wrote that the company views the volatile digital cash as an emerging threat, describing crypto as an unregulated and speculative financial product. The ban applies to ads that promote cryptocurrencies and exchanges, as well as initial coin offerings, which allow companies to raise money by selling virtual currency. "We work across Google to evolve our policies and enforce them with the intention of making sure content is available online but that it is experienced in a good way", said Stansfield.

The announcement also appeared within Google's "bad ads" report, in which the company said it removed 3.2 billion malicious, deceptive and controversial advertisements from the web in 2017-an increase from the 1.7 billion it scrubbed in 2016.

While Google's last Financial Services Policy had nowhere mentioned Bitcoin, cryptocurrency or any other related topics; however, the newly released restricted financial products policy restricts the advertisement of Contracts for Difference, rolling spot forex and financial spread betting and cryptocurrency-related product ads.

Tabloid cloaking violations accounted for more than 7,000 AdWords accounts being suspended a year ago, a significant jump from the 1,400 sites that were suspended in 2016 for clickbait headline ads that led to a sales pitch instead of news content.

The bitcoin mania which has erupted past year, has attracted many con-artists and bad actors who used online advertising to generate revenue. And 79 million ads were blocked because clicking on them led to sites with malware, while 400,000 sites containing malware were also removed as part of that process.

Google will use the same technology to ban cryptocurrency advertising as it uses against the promotion of counterfeit items or sexually explicit content.

Last year, we removed 320,000 publishers from our ad network for violating our publisher policies, and blacklisted almost 90,000 websites and 700,000 mobile apps.

More info at Google via CNBC.

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