Google will stop showing all ads for cryptocurrencies in June. This follows Facebook, which banned such ads back in January. This is said to protect users.
Google announced that starting this June, it will no longer be able to advertise cryptocurrency ads through its AdWords ad network. Google’s director of sustainable ads, Scott Spencer, said the move is aimed at protecting users from misleading cryptocurrency-related content and fraudulent projects.
“We don’t have a crystal ball and we don’t know what the future holds for cryptocurrency. However, we have seen enough damage done to our customers that we will approach this content with great care,” Google executives were quoted as saying.
The ban covers almost everything: cryptocurrencies and related content, including ICOs, crypto wallets, crypto exchanges or business advice.
Google followed Facebook with this ban. The latter banned ads for increasingly popular cryptocurrencies and related products back in January. It is not yet clear how advertisers themselves will react to the moves.
Cryptocurrency is a type of electronic money. This digital currency is created electronically using encryption through so-called asymmetric cryptography. The best known and oldest cryptocurrency is Bitcoin.
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