Bitcoin stumbles as Google plans to ban all cryptocurrency related ads

Pat Wise
March 14, 2018

Put another way, Google took down more than 100 bad ads per second previous year. Google said it will also seek ways to close loopholes which allow cryptocurrency advertising by purposely misspelling words like "bitcoin".

Google is updated its financial services-related advertising policies, which will see any advertising for cryptocurrency-related content, will be banned. Bitcoin, the largest cryptocurrency by market value is traded all over the world which has got huge ads on the internet.

Google said the ban will include unregulated and speculative products like binary options, cryptocurrency and financial spread betting among others. Right now, Google queries for terms like "binary options" and "buy bitcoin" produce four ads at the top of the results, reports Bloomberg.

Facebook, Google's primary rival for ad dollars, banned ads for cryptocurrencies in January.

Google has to come up with new policies, not just enforce the existing ones, Spencer said.

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Google took down more than 3.2bn "bad ads" a year ago in an effort to prevent its vast advertising network from being used for nefarious purposes, up from the 1.7bn it removed in 2016. We blocked 79 million ads in our network for attempting to send people to malware-laden sites, and removed 400,000 of these unsafe sites past year.

In 2017, they added 28 new advertiser policies and 20 new publisher policies to combat new threats and improve the ads experience online. That's an average of 100 per second, and an increase from 1.7 billion removals of bad ads in 2016.

Bloomberg reported that the company suspended 7,000 customer accounts for ads that impersonated a news article-what Google calls "tabloid cloaking"-and blocked more than 12,000 websites for copying information from other publications".

It's unlikely that the 3.2 billion ads pulled in 2017, nor the coming cryptocurrency ban, will have a serious impact on sales. Last year, we were able to remove more bad actors from our ad ecosystem than ever before, and at a faster rate.

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