Google's decision follows a similar one from Facebook, which banned cryptocurrency ads on its site in January. In a policy change update put up yesterday, Google revealed that it will "restrict the advertisement of Contracts for Difference, rolling spot forex, and financial spread betting", as well as ads for "Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)". According to the policy, it will block all the advertisements related to "cryptocurrencies and related content".
Google, the largest provider of digital advertising on the internet, announced, on Tuesday, that the firm plans to alter its advertising policy for certain financial services, including bitcoin. As the ads are not banned at the moment, so Google queries for terms like "binary options" and "buy bitcoin" give four ads at the top of the search results.
Facebook (fb), Google's primary rival for ad dollars, banned ads for cryptocurrencies in January.
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 has to come up with new policies, not just enforce the existing ones, Spencer said.
According to the search engine giant, it blocked 79m ads on its network past year for automatically sending people to malware-laden sites and removed 400,000 of these unsafe sites. Throughout all of 2017, they reviewed over 11,000 websites for potentially containing misrepresentative or misleading content and suspended more than 650 websites and terminated 90 publishers from our ad network.
Additionally, the Silicon Valley powerhouse said it blocked more than 12,000 websites for copying content from other sites.
More than 7,000 AdWords accounts for "tabloid cloaking" violations, up from 1,400 in 2016. Last year, we were able to remove more bad actors from our ad ecosystem than ever before, and at a faster rate.