According to a recent update, Google will ban all crypto-related ads in June 2018.
The company’s new financial services policy says that the advertisement of Contracts for Difference, rolling spot forex, and financial spread betting won’t be seen. In addition, ads for the following will no longer be allowed to serve binary options and synonymous products, cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice).
Google decided to make this move because it felt that all listed above were not honest about their intentions and speculative.
Such a move means that the search engine giant’s own sites, as well as third-party sites in its network, will not be able to be found or posted.
“We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution”, said Scott Spencer, the Director of Sustainable Ads at Google to CNBC.
Earlier this year Facebook banned all ads promoting cryptocurrencies — including bitcoin and ICOs — for its “deceptive promotional practices.”