After Facebook’s decision and external pressure, Google is also banning cryptocurrency ads and anything related to binary solutions. Cryptocurrency ads, ICOs and digital transactions will be banned by Google starting from June 2018. The measurement comes as a solution to scams that occur with initial coin offering platforms. In January, Facebook has adopted this extreme solution and since then, Google has be pressured to follow.
Google will ban all the ads related to cryptocurrency, including Bitcoin and different ICOs to prevent frauds or at least diminish them. The CEO of Google has stated on his personal blog that they have upgraded some politics from the speculative financial products area, binary options, international crypto markets and Contract for Differences platforms.
Along with these measurements, Google added a restriction when it comes to crypto transactions and electronic wallets. Moreover, Google will block access to some gambling ads.
Virtual coins such as Bitcoin, Ethereum or other altcoins have recorded a massive popularity, especially this year which has fueled the growth or drop in value. As Bitcoin has managed to top the $19,000 value in December, it is currently struggling to stay above $8,000. Trades with cryptocurrencies are enticing when it comes to scammers, because in theory they act on a black market and the ICOs can generate millions of dollars in just a fund raising. Also, the money raised can disappear overnight without any trace, as it happened before with numerous platforms.