Published: Wed, March 14, 2018
Business | By Tara Barton

Google to ban cryptocurrency and ICO ads

Google to ban cryptocurrency and ICO ads

By this move, the technology company said it was able to block the majority of bad adverts experiences, like malvertising and phishing scams, before the scams impacted people.

Bitcoin, the largest cryptocurrency by market value, pared an advance of about 2 per cent after Google's announcement, trading little changed at $9,099 as of 1:04 PM in Hong Kong.

"In 2017, we took down more than 3.2 billion ads that violated our advertising policies", said Scott Spencer, Google's director of sustainable ads, in a blog post. Put another way, Google took down more than 100 bad ads per second previous year.

There has been an increase in bad ads/sites removed in 2017 compared to 2016.

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Banished 320,000 publishers from the AdWords network for violating ad policies. It also blocked almost 90,000 websites and 700,000 mobile apps for policy violations. Google defines tabloid cloakers as scammers that try to game the system by pretending to be news. That's up from 1.7 billion in 2016. Once a user clicks, they're directed to site that's trying to sell something like a weight-loss product, not a news story. Google is also accelerating a push against misleading content.

It also added 28 new advertiser policies and 20 new publisher policies to combat new threats and including policies against discrimination and intolerance beyond current hate speech protections.

Folllowing Facebook in the banning of all ads promoting financial products and services tied to cryptocurrencies and initial coin offerings, Google has said that it will ban ads for unregulated or speculative financial products like binary options, cryptocurrency and financial spread betting among others.

They have already updated their gambling policies to address new methods of gambling with items that have real-world value (e.g., skins gambling). This was possible in part thanks to new technology that lets the team remove Google ads from individual pages on a website that violate its policies, helping scale enforcement for policies that prohibit monetization of inappropriate and controversial content.

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