Google to ban ads for crypto-currencies and ICOs

Google headquarters in Mountain View California

Encouraged by country leaders and banks, major advertising companies have been banning cryptocurrency related-ads on their platform due to the uncertainty surrounding scams and illicit activities using crypto.

If the top financial watchdogs in the US don't come up with clearer guidelines for the cryptocurrency market, innovative startups may go elsewhere, according to one of the most popular digital-token exchanges.

The company said it down more than 3.2 bn ads that violated its advertising policies in 2017, as well as blocking 79m ads in its network that attempted to send users to malware-laden sites.

Google plans to ban all cryptocurrency ads, a move is a part of a huge crackdown on the marketing of other high-risk financial instruments.

Google is banning ads for cryptocurrencies and binary options from June.

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.

After June, organizations that want to advertise these services will need to get certified by Google first and the certification itself will only be available in select countries, according to Google.




Google's director of sustainable ads, Scott Spencer, told the Wall Street Journal that the advertising policy update was created to "prevent consumer harm".

This will mean companies can no longer serve ads for "cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)".

The work to protect the ads ecosystem doesn't stop here - it's ongoing.

Google announced the change in an update to its advertising policy.

A report published by "Big Four" accounting firm Ernst & Young in December 2017 reveals that 10% of all ICO (Initial Coin Offering) funds were lost to hackers and scams, and cryptocurrency phishing sites made around $1.5 million per month.

The market for cryptocurrencies has been fraught with wild speculation about the value of such products, most notably, bitcoin, which reached nearly $20,000 in December 2017, fell below $6,000 in February, and is now ranging between $10,000 and nearly $12,000.

Related news:

Hot News

isis-killer-beheading-video-story-top Bihar bypolls: BJP leading in two seats, RJD in one
Mar 15, 2018 - 01:54
RJD's gamble to field Sarfaraz Alam to cash in on sympathy for Taslimuddin's family in the constituency yielded favourable result. Party leaders said Tejashwi had a foolproof strategy to reach out to his party's traditional voters in both the constituencies.

isis-killer-beheading-video-story-top Sensex Ends Down 21 Points; Nifty Stays Above 10400
Mar 15, 2018 - 01:51
Bucking the trend BSE small-cap index rose by 1.14 per cent and mid-caps gained 1 per cent as retail investors raised their bets. The Sensex losers were: Coal India, down 2.26 per cent at Rs 297.80 and State Bank of India, down 0.12 per cent at Rs 252.85.

isis-killer-beheading-video-story-top Kurangani forest fire leaves 10 dead; 8 are seriously injured
Mar 15, 2018 - 01:46
Sitharaman remained in touch with the District Collector and directed the Indian Airforce to co-ordinate in the rescue operations. Tamil Nadu Governor Banwarilar Purohit on Tuesday condoled the death of ten trekkers in a forest fire at Theni District.

isis-killer-beheading-video-story-top 3D printed house that will give shelter to those who lack
Mar 15, 2018 - 01:44
These homes aren't part of the "tiny house" movement and you won't see suburbs of these 3D houses popping up across America. ICON has partnered with a nonprofit housing foundation New Story to take its technology to the developing world.

isis-killer-beheading-video-story-top US did not 'deserve' Trump presidency, says Hillary Clinton during India visit
Mar 14, 2018 - 05:46
She won places that are diverse, which is, you know, better than all those places that aren't. "His whole campaign, 'Make America Great Again, ' was looking backward", Clinton said .

isis-killer-beheading-video-story-top Joy Behar of 'The View' apologizes for Christianity comment
Mar 14, 2018 - 05:46
Show moderator Whoopi Goldberg quickly moved on. "We would be begging for the days of Trump back if Pence became president". Her comments launched a protest that made it all the way to a shareholder's meeting of ABC parent Walt Disney Corp.

isis-killer-beheading-video-story-top Sam Bradford agrees to 1-year, $20 million deal with Arizona Cardinals
Mar 14, 2018 - 05:45
Bradford, 30, would become the only quarterback on Arizona's roster should he sign Wednesday, barring another signing or a trade. However, he has dealt with injuries throughout much of his career that has prevented him from truly fulfilling his potential.

isis-killer-beheading-video-story-top Violence and torture continues on Rohingya
Mar 14, 2018 - 05:44
More than 650,000 Rohingya have fled Myanmar's Rakhine State into Bangladesh since a military crackdown last August. She further adds, "I'm afraid that Facebook has now turned into a beast, and not what it originally intended".

isis-killer-beheading-video-story-top Set clocks ahead for Daylight Savings Time
Mar 13, 2018 - 04:33
The clocks always go forward an hour in the last weekend in March, and go back an hour on during the final October weekend. By the 1960s, the time change was standardized as part of the Uniform Time Act to preserve daylight.

isis-killer-beheading-video-story-top Google Lets Third-Party Products Include Custom Google Assistant Commands
Mar 13, 2018 - 04:33
Lastly, users can also subscribe to notifications from actions, which will notify then about news alerts as and when they happen. It's a wonder that this, like many other features being added to Assistant, wasn't baked in from the get-go.

isis-killer-beheading-video-story-top Dubai: 7 friends killed in plane crash after party
Mar 13, 2018 - 04:32
The semi-official Fars news agency said the plane took off from Sharjah International Airport on its way to Istanbul. Finding the aircraft's black box will help investigators trying to piece together what happened.

isis-killer-beheading-video-story-top Chicago area students prepare for Wednesday walkouts
Mar 13, 2018 - 04:30
He said police officers from Berwick and North Berwick, as well as the State Police, will be on hand to ensure safety. Nationally, this walkout emphasizes the need for more gun control, and it allows students to voice their opinions.

isis-killer-beheading-video-story-top Hearthstone kicks off the Year of the Raven with The Witchwood expansion
Mar 13, 2018 - 04:30
The Hero Power upgrade from Baku the Mooneater is the same as the one from Justicar Trueheart, as a post on Reddit reveals. Hearthstone just entered the Year of the Raven , and now we know what to expect from its first expansion.

isis-killer-beheading-video-story-top Aubameyang Reveals The Real Reason He Joined Arsenal
Mar 13, 2018 - 04:29
For the second successive game at the Emirates Stadium, Arsenal played in front of vast swathes of empty red seats on Sunday. Watford have now lost all five of their away Premier League matches in the month of March.

isis-killer-beheading-video-story-top Kristen Wiig will feature in Wonder Woman 2, confirms filmmaker Patty Jenkins
Mar 12, 2018 - 04:35
But believe us, there is reason to be even more excited than fans were the first time around. Set in the 1980s, the Wonder Woman sequel is expected to open in theaters November 1, 2019.