Google to ban advertisements on cryptocurrencies and related products

Google bans crypto and ICO ads, requires certification for Forex and CFD ads

Google To Ban All Crypto-Related Ads Starting June 2018

What was interesting to us and less expected, beyond the expected crypto and ICO ad ban, was that Google "lumped in" the entire world of Forex and CFD advertising into its new advertising policy.

This will be valid for all promotional campaigns for initial coin offerings, Bitcoin exchanges, digital wallets to store the assets as well as trading advice.

Google made its determination based upon the fact that "it felt there was a lack of appropriate consumer protections for highly speculative and complex trades", BBC reported.

While Google did not provide a backdrop to the reasons it banned cryptocurrency ads, they are likely to be the same to the ones cited by Facebook -misleading ads being abused to drive traffic to financial scams and phishing sites. Facebook has emphasized many firms in the sector were not acting in good faith. In an update of its policy, Google announced this decision on Wednesday. Those ads placed on third-party sites via the company's ad platforms will also get affected.

The news was not particularly well-received, with the value of Bitcoin, Ethereum and Ripple all dropping following the announcement.

It also added 28 new advertiser policies and 20 new publisher policies to combat new threats and including policies against discrimination and intolerance beyond current hate speech protections.

Separately, the ban applies to such risky financial products as binary options, which are a virtual cryptocurrency derivative yielding an all-or-nothing payoff. Some businesses, however, were able to find loopholes by purposely making misspellings of words such as bitcoin in ads. But a Google spokeswoman said the Google's policies will try to anticipate workarounds like this.

"Improving the ads experience across the web, whether that's removing harmful ads or intrusive ads, will continue to be a top priority for us", said Scott Spencer, Google's director of sustainable ads, in a blog post.

It's unlikely that the 3.2 billion ads pulled in 2017, nor the coming cryptocurrency ban, will have a serious impact on sales.

Google zapped past year more than three billion ads, nearly twice that of 2016.

The search giant will require CFD, spread bet, and foreign exchange providers to register with it if they want to advertise on its platform and all providers must be licensed in the country they are targeting. Users would have to make sure ads and their landing pages comply with all AdWords policies. Google introduced policies on such content in 2016, banning its ads from appearing on website that offer deceptive content, such as selling fake diplomas or certificates.

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