According to an update of Google’s Financial Services policy, the giant Internet company will ban all cryptocurrency-related ads as of June 2018.
This news comes after certain cryptocurrency advertisers using Google Adwords noticed a huge drop in the views of their ads. Other companies also took the same decision such as Youtube and Facebook.
With the latest modification to its financial products policy, advertisements for “cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice),” will not be tolerated anymore.
The Director of Sustainable Ads at Google, Scott Spencer said to CNBC on Wedenesday,
“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.”
Recently, other big internet companies took similar decisions related to cryptocurrency ads such as Facebook and Twitter.