Google has announced that it will be blocking all advertisements relating to Cryptocurrencies and related content in an update to it’s advertising policy. The child company of Alphabet Inc. is the latest to adopt this policy after Facebook announced a similar stance on Cryptocurrency advertising. Though the policy change doesn’t explicitly state a reason for the ban, it comes after an increase in Cryptocurrency popularity, and it’s adoption by scammers using online ads to promote fraudulent Cryptocurrency schemes.
This reflect’s a statement by Google’s director of sustainable ads, Scott Spencer, that the policy decision was made to prevent consumer harm. This reflect’s uncertainty for the future of the Cryptocurrency market, with the U.S. Securities and Exchange Commission reportedly warning that Cryptocurrency exchanges risk becoming illegal because the don’t disclose how they determine what currencies can be bought and sold on their sites. Google added in it’s most recent ad report that it had recently taken down more than 3.2 billion ads in violation of their wider policies in 2017, equalling about 100 dangerous links a second.