Google to ban ads for cryptocoins, related products

If you're someone in the crypto industry, legitimately working hard on your startup and had planned on gaining market share by advertising, then you'll be pretty upset at Google's conservative position. Cryptocurrencies have been a hot topic for quite some time now, with its regular rise and fall the digital currency coins have managed to steal the stage away.

Google is lagging behind Facebook - the Zuckerborg announced it was canning crypto ads on its platform back in January.

The company has suspended more than 7,000 accounts of customers for ads impersonating news articles, which Google refers to as tabloid cloaking, while blocking over 12,000 websites for the copying of information on other publications.

"Google's ban on cryptocurrency-related advertising is only more validation for this new asset class. Governments and now media outlets are attempting to "protect" the public from this burgeoning asset class when in reality, the global populous is moving forward without them". The new rule "prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency", it said.

Advertisers can request certification with Google starting March 2018 when the application form is published.

Google has released an updated policy on its AdWords support page, which gives financial products affected list. Google will also prohibit advertising for binary options and equivalent products. The move is part of a larger update to the company's Financial Services policy that will come into force in June and will affect a wider range of financial products.

Do you think Google made the right call banning all cryptocurrency adverts? This means we're able to block the majority of bad ad experiences, like malvertising and phishing scams, before the scams impact people. Google generated $95.4 billion in ad revenue in 2017, 20 percent higher than 2016.

"Advertisers offering Contracts for Difference, rolling spot forex, and financial spread betting will be required to be certified by Google", the post says. "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", he asserted.