Google has announced that advertisements for cryptocurrencies will be banned from its platform starting in June. The ban not only covers currencies such as Bitcoin and Ethereum, but also related products such as initial coin offerings, cryptocurreny exchanges and digital wallet.
Facebook, Twitter, and even Snapchat had also banned cryptocurrency ads, for similar reasons. This how Blockchain empowers artificial intelligence
But Facebook moved away from its blanket ban this June, when it said it would no longer ban all cryptocurrency ads, but would rather allow those from “pre-approved advertisers” instead. It excluded ads that promoted binary options and initial coin offerings (ICOs), however.
Google is now following suit with its own policy change. The update was announced today, we’ve confirmed.
The announcement came as Google is relying on new technology to detect and remove ads that violate policies. The company says it removed over 3.2 billion ads in 2017, and while it does not give a precise reason for the cryptocurrency ad ban, it says it is part of “improving the ads experience across the web.”
But for ad-dependent platforms like Facebook and Google, there’s so much money to be made here. It’s clear they wanted to find a way to let some of these advertisers back in. Google parent Alphabet makes around 86% of its total revenue from ads, CNBC noted, and booked over $54 billion in ad revenue in the first half of the year.
That means that even companies with legitimate cryptocurrency offerings won’t be allowed to serve ads through any of Google’s ad products, which place advertising on its own sites as well as third-party websites.
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