Cryptocurrencies banned from Adwords, starting in June 2018

Cryptocurrencies banned from Adwords, starting in June 2018

Cryptocurrencies banned from Adwords, starting in June 2018

This will be valid for all promotional campaigns for initial coin offerings, Bitcoin exchanges, digital wallets to store the assets as well as trading advice. Facebook had also banned crypto-related ads due to cryptocurrency scams increasing in number, ads play a big role in those scams. Facebook has emphasized many firms in the sector were not acting in good faith.

Still, for a time that only meant ads served by Reddit and it didn't apply to Google-generated ads that are personalized to your cookies. A leading investment firm said Bitcoin "has no intrinsic value" and that it is "a matter of when, not if, the Bitcoin bubble will pop".

The price of bitcoin - the most heavily traded cryptocurrency - slipped by about 1.5% following Google's announcement, according to data from Coindesk.

Google is making a timely change to its advertising policy.

Ads for binary options and synonymous products will also not be allowed. Some aggressive businesses are exploiting a loophole by purposely misspelling words like "bitcoin" in their ads. After expanding its policy against unsafe and derogatory content in April to cover additional forms of discrimination and intolerance, Google removed ads from 8,700 pages that violated the expanded policy.

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While regulation is needed in the cryptocurrency space it is still uncertain if banning related ads will slow down the markets and the scams related to ICOs. The company blocked 79 million ads in its network for attempting to send people to malware-infested sites, and removed 400,000 of these types of sites in the past year.

The company further stated that advertisers offering the aforementioned features will be required to be certified by Google before they can advertise through AdWords.

In recent weeks, AdWords clients have reported a significant drop in clicks driving users to their campaign landing pages.

Google says genuine market advertisers will be able to request Google certification starting March 2018 "when the application form is published". The head of the International Monetary Fund induced authorities around the world to put restrictions on cryptocurrency because it gives perpetrators an opportunity to conduct money laundering and finance terrorism. He also pointed out that India did not recognise them as legal tender and would instead encourage blockchain technology in payment systems.

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