Google recently announced that it will be banning all advertising relating to cryptocurrency products and services from its search engine starting from June in a bid to tackle “emerging threats”.
The company revealed in a new blog post that it was cracking down on “deceptive content” which included commercials for all and any speculative and unregulated financial products like cryptocurrency exchanges, wallets and initial coin offerings as well as binary options, foreign exchange trading platforms and spread betting sites in attempts to improve the “ad ecosystem” experienced by users.
Cryptocurrency frenzy have been widespread this year after an explosion in the price of bitcoin, ether and their kind in the run-up to Christmas, with bitcoin’s value spiking at $19,850 (£14,214) in mid-December.
Chris Keshian, CEO of $APEX Token Fund, said, “We see Google’s actions as progressive – as long as they continue to keep an open mind and don’t tar all crypto currencies with the same brush.”
He added, “Crackdowns on crypto currencies are the best way to weed out irresponsible and fraudulent ICOs and place greater focus on cases against unregistered persons acting as agents, brokers and investment professionals in the cryptocurrency space.”
Google has also removed 3.2bn ads that violated its rules last year – 100 per second, the company claims, and almost double the number removed in 2016.
“Improving the ads experience across the web, whether that’s removing harmful ads or intrusive ads, will continue to be a top priority for us,” said Scott Spencer, Google’s director of sustainable ads.
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