Google has announced a ban on all ads related to Cryptocurrency. This move is being followed after a similar ban posed by facebook. Google will not allow any ad concerning trading advices, wallets and initial coin offerings. As the company is updating its financial service related ad policies, the director of the same Scott Spencer had briefed media about it. This rule will be imposed on legitimate cryptocurrency companies who post ads on their own sites and on third part sites related to cryptocurrency, wallets and ICO’s.
The new update will be effective from june 2018. The company has outrightly explained that it is definitely unaware about the unprecedented future but in this area they want to approach with extreme caution, as consumers harm even a potential harm matters to the company. It agrees that cryptocurrencies have emerged as a popular digital currencies and have benefited its users increasing their wealth to multifolds but still it is unregulated and had witnessed a number of high profile scams.
Google while reviewing its Policy had released an “Trust and safety ads” report which published data of its policy breach. It said that google had took down 3.2 billion ads in 2017 that violated its rules which is doubled the number of 1.7 billion that it had removed the previous year.Google‘s parent company Alphabet gets 84 percent of its revenue from advertising so it is a part of ethical duty also to convince advertisers that the Updated Ad Policy is about the safety and protection of interest of the investors.
