Google to Ban Cryptocurrency, ICO Ads from June


In January, Facebook took a similar step by blocking advertisements for cryptocurrencies. The blanket ban will affect all companies with any kind of cryptocurrency-related offerings - even legitimate ones - and stop them from accessing Google's vast ad network, that allows companies to advertise on Google's own websites as well as those of third-party web partners. Bitcoin, the largest cryptocurrency by market value is traded all over the world which has got huge ads on the internet. Rival coins Ripple and Ether also pared gains.

Added policies to curtail ads relating to financially risky moves with cryptocurrencies, foreign exchanges and other unregulated or speculative areas. Right now, Google queries for terms like "binary options" and "buy bitcoin" produce four ads at the top of the results, reports Bloomberg. Some aggressive businesses found a loophole: purposely misspelling words like "bitcoin" in their ads.

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Google shared today that the company's ads team killed 3.2 billion so-called "bad ads" in 2017, an increase of 88 percent from the previous year, when the company removed 1.7 billion "bad ads".

Last year, for instance, Google pulled 79 million ads for luring online clickers to websites with malware.

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Of the 1.7 billion ads, 79 million were attempting to send people to malware-laden sites - Google removed 400,000 of these unsafe sites a year ago. In addition, Google banished 320,000 online publishers for violations like showing Google-supplied ads alongside inappropriate or controversial content, he said. Last year, we were able to remove more bad actors from our ad ecosystem than ever before, and at a faster rate. The company suspended 7,000 customer accounts for ads that impersonated a news article - what Google calls "tabloid cloaking" - and blocked more than 12,000 websites for copying information from other publications.

Google appeared to have started quietly restricting cryptocurrency-related ads as early as last week, with some advertisers seeing significant performance drops for ICO-related ads.

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