Google to Ban ICO and Crypto Ads Starting In June

Google has said it will change its financial product policy in June to effectively ban advertisements related to cryptocurrency and ICOs.

AccessTimeIconMar 14, 2018 at 7:46 a.m. UTC
Updated Sep 13, 2021 at 7:41 a.m. UTC

Search giant Google has said it will change its financial product policy in June this year, a move that will see advertisements related to cryptocurrency effectively banned.

In a blog post published Tuesday, the firm indicated that it will change its existing financial product restriction list in June this year, blacklisting ad content "including but not limited to initial coin offerings (ICO), cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice."

"Such ads will no longer be allowed to serve," the blog reads. The restriction will apply both to Google's proprietary and affiliated advertisement platforms.

The move comes just a month after social media giant Facebook also announced that it would enforce a similar policy that bans advertisements involving bitcoin and initial coin offerings in bid to prevent cryptocurrency-related promotions that may deceive investors.

While Google has not explained in details the reasons of its ban, the new policy comes at a time when regulators in the U.S. have been increasingly scrutinizing cryptocurrency projects that tout unrealistic investment opportunities and promote themselves to investors over the internet.

The latest moves by Google and Facebook – two of world's largest internet and advertising platforms – are also in line with U.S. regulators' effort at both state and federal levels in cracking down ICOs that appear dubious in the government's view.

As reported before, the U.S. Securities and Exchange Commission has also issued multiple warnings regarding its increasing effort in monitoring initial coin offerings that the agency may deem as issuing unregistered securities.

Google AdWord image via Shutterstock

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
A New Chapter of Web3: Solana Unveils Smartphone ‘Saga’; Moody’s Downgrades Coinbase

The most valuable crypto stories for Friday, June 24, 2022.

CoinDesk - Unknown
2
CoinDesk - Unknown
How Are Institutions and Companies Investing in Crypto?

From putting bitcoin on their balance sheets to setting up shop in the metaverse, the ways brands and institutions are investing in cryptocurrencies continues to expand.

CoinDesk - Unknown
3
CoinDesk - Unknown
Consensus 2022: Hollywood, Colleges, Conferences vs. Crypto

The state of crypto and economics live from Consensus 2022 in Austin, Texas.

CoinDesk - Unknown
4
CoinDesk - Unknown
Bitcoin se estabiliza cerca de $21K; inversores esperan evitar otra caída el fin de semana

Los analistas se cuestionan si BTC podrá mantenerse por encima del umbral de $20.000 en un clima de desconfianza entre los inversores.

CoinDesk - Unknown