Google to ban cryptocurrency ads in June

Gladys Abbott
March 15, 2018

Under the new guidelines, Google said that starting in June, several types of financial-related ads would be banned from its sites, including "cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)". Facebook banned cryptocurrency ads in January, although some people took advantage of loopholes by misspelling terms (spelling Dogecoin with a zero instead of an O, for example). According to the policy, it will block all the advertisements related to "cryptocurrencies and related content".

Many website owners use our advertising platforms, like AdSense, to run Google ads on their sites and content and make money.

Companies looking to advertise rolling spot forex and financial spread betting will also now need certification from the company in order to advertise through AdWords.

The new cryptocurrency ad policies are set to take effect in June. On Wednesday it provided a look at how the company fought bad advertising practices in 2017, sharing details on technology and policies added to protect consumers, advertisers and publishers.

Numerous leading banks including Lloyds, Capital One, Bank Of America, Citibank and JP Morgan and HDFC Bank have already barred their customers from purchasing Bitcoin and other cryptocurrencies with their cards.

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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. Google also introduced technology that enables it to remove Google ads from individual pages on a website that violate its policies. READ NEXT:Fitbit launches the Versa, a $200 smartwatch for the masses Google's new policies target specific kinds of ad that it has identified as commonly deceptive or malicious.

We're constantly updating our policies as we see new threats emerge. Almost 80 million adverts that automatically send people to malware-laden sites were taken down. Further, Google claims to have removed 3.2 billion ads a year ago which were violating the ad policies.

One of the trends in "Bad Ads" past year was the rise in "tabloid cloaking" where adverts disguise themselves with sensationalist headlines, often relating to a celebrity or politicians, and when users click on them they go through to an advert selling something other than news - like diet pills or weight-loss scams.

Some 320,000 bad publishers were removed from the company's ad network in 2017, up from 100,000 the year before.

Google also removed more than 130m ads a year ago for trying to abuse its ad network through malicious activity.

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