It has been declared by Google that it will bar ads that endorse ICOs (initial coin offerings) and cryptocurrencies initiating from June. The company declared the shift as part of an upgrade to its policy that will also forbid other dicey financial products. The guidelines mention that advertisements for affiliates and aggregators will no longer be able to show “cryptocurrencies and associated content.”
At present, typing “Bitcoin” in the search query displays an commercial at the topmost of the search results page, although that will revolutionize after the new policies come into effect. The move of Google reflects one accomplished in January by Facebook, which also barred all commercials for cryptocurrency on its network. However, it has earlier seen that Facebook cryptocurrency advertisements found a means after the ban by intentionally misspelling words, for instance, substituting the “o” in the word “bitcoin” with a zero. A Google spokesperson said that the firm would seek to anticipate workarounds like this.
Google mentions in a distinct blog post that the firm took down over 3.2 Billion advertisements in 2017 in contravention of its policies. Further, 48 Million commercials attempting to ploy individuals into installing unnecessary software and 79 Million malware-related advertisements were blocked. The firm also eliminated 320,000 publishers from its advertisement network for defying the publisher policies and almost 90,000 websites were blacklisted. Director of sustainable ads at Google, Scott Spencer, said, “Enhancing the advertisements experience across the network, whether that is taking down destructive advertisements or intrusive commercials, will carry on to be a foremost precedence for us.”
Bitcoin as well as other cryptocurrencies are scandalously impulsive and governments are also suppressing on the digital tokens. China is progressively restraining on digital currencies, India has mentioned it does not deem Bitcoin to be a legal tender, whereas Korea is setting up a bill to bar all domestic cryptocurrency trading.