Google to ban cryptocurrency advertising2018-03-14 16:27 by Daniela
Starting in June, Google will ban all cryptocurrency advertising across its flagship search and display ad businesses. That means that even companies with legitimate cryptocurrency offerings won't be allowed to serve ads through any of Google's ad products, which place advertising on its own sites as well as third-party websites.
"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," said Scott Spencer, Google's director of sustainable ads.
Google's ban on cryptocurrency ads comes on the heels of a similar action taken by Facebook earlier this year. Facebook Inc., Google's primary rival for ad dollars, banned ads for cryptocurrencies in January. Google's updated policy came with the release of its annual "bad ads" report, a review of the number of malicious, deceptive and controversial ads Google scrubs from its massive search, display and video network.
Google said that in order for financial-services companies to have their ads appear on Google sites, the company has to be licensed by "the relevant financial services authority in the country or countries they are targeting, ensure their ads and landing pages comply with all AdWords policies, (and) comply with relevant legal requirements, including those related to complex speculative financial products."
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