While cryptocurrency continues to gain steam, Google has decided to take a stance on the currency and will begin to ban ads for cryptocurrency or initial coin offerings as part of its updated Advertising Policies. According to the released Google document, ads related to cryptocurrencies as well as "initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice," will no longer be permitted on Google's AdWords platform.
Google's updated Advertising Policiesand banning of cryptocurrency ads follows a similar initiative from Facebook, and hopes to protect users from being lured into misleading or deceptive promotional practices. This announcement by Google follows the company's other ad venture which is targeting 'bad ads' and currently classifies cryptocurrencies under "unregulated or speculative financial products."
Image Credit: Marco Verch
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