Google latest giant after Facebook to take action against cryptocurrency ads

Google latest giant after Facebook to take action against cryptocurrency ads

Google latest giant after Facebook to take action against cryptocurrency ads

Google said the ban will include unregulated and speculative products like binary options, cryptocurrency and financial spread betting among others. Google said it will also seek ways to close loopholes which allow cryptocurrency advertising by purposely misspelling words like "bitcoin".

Fraudsters have moved into the cryptocurrency space to defraud internet users, and Google said it took down 3.2 billion adverts violating its advertising policies in 2017, almost double the number it removed in 2016.

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

An example of this is their Adsense policy introduced in late 2016 to take action on ads on misrepresentative content. Google have had long-standing policies prohibiting AdSense publishers from running ads on sites with dishonest content. Last year, Google generated $95.4 billion in ad revenue, up 20 percent from 2016.

Google's updated policy for crypto and ICO ads has been announced by the company along with its "trust and safety" ads report which is comprised of a review of malicious and deceptive ads of online scammers from its search engine, third-party websites and its video network.

Which means a whole new raft of Google regulation/internal regulators.

The most popular cryptocurrencies largely remained unfazed by the news.

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".

Of the 1.7 billion ads, 79 million were attempting to send people to malware-laden sites - Google removed 400,000 of these unsafe sites previous year. As consumer trends evolve, as our methods to protect the open web get better, so do online scams.

"Improving the ads experience across the web, whether that's removing harmful ads or intrusive ads, will continue to be a top priority for us", Scott Spencer, director of sustainable ads, said.

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