Google to ban cryptocurrency and ICO ads

Google to ban cryptocurrency and ICO ads

Alphabet Inc's Google said on Wednesday it will ban advertisements for cryptocurrencies and related content starting in June. Bitcoin, the largest cryptocurrency by market value is traded all over the world which has got huge ads on the internet.

Google says it is able to block the majority of bad ad experiences before the scams impact people. Rival coins Ripple and Ether also pared gains.

The agency reminds that earlier Facebook social network took a similar step, though some aggressive businesses found a loophole: purposely misspelling words like "bitcoin" in their ads.

The UK's top regulator the Financial Conduct Authority (FCA) released figures pointing towards a loss of £87,410 per day to binary options scams previous year. A Google spokeswoman said the company's policies will try to anticipate workarounds like this.

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According to her, last year, Google removed 320,000 publishers from its ad network for violating the publisher policies, and blocked almost 90,000 websites and 700,000 mobile apps.She said the technology firm also introduced new technology that allows it to remove Google ads from more than two million URLs each month, adding: "Page-level enforcement technology allows us to better protect our advertisers by removing more ads from more sites while also minimizing the impact on legitimate publishers".

Along with its accelerated push against misleading content, Google pulled 79 million advertisements a year ago that lured clickers to websites with malware.

And it's working! In 2017, Google noticed that this specific type of scam steadily declined on their networks as the year progressed: In a single month in 2016, they reviewed more than 1,200 sites for potentially violating their new misrepresentative content policy and terminated 200 publishers. Also included were 66 million "trick-to-click" ads in 2017 and 48 million ads that were attempting to get users to install unwanted software. In 2017, Google blocked 650 sites for running ads alongside fake content, 12,000 sites for scraping or copying content from other sites, and suspended 7,000 AdWords accounts for tabloid cloaking violations (running news headlines but redirecting users to sites that sell dubious products).

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