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Google banned advertising of Bitcoin and cryptocurrency

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Google followed Facebook and announced a ban on advertising related to Bitcoin, cryptocurrencies and initial coin offerings. The company will update its terms for financial service ads and will no longer accept any content associated with cryptocurrencies, initial offering of tokens, portfolios, and trader tips.
Changing means that even companies with policy responses will not get the chance to advertise in Google. The new terms of service will come into force in June 2018.
“We do not have a crystal ball to understand what is the future of cryptocurrencies, but we have already seen that many people have suffered”, said Scott Spencer, who is director, product management and sustainable advertising in Google. “Digital currencies have created a wealth of rich people, but the instrument is unregulated and has created a number of fraudulent practices”, added he.
In its report, Google says it has dropped more than 3.2 billion ads in 2017 that have violated its terms – almost double than the previous
year. Parent company Alphabet receives about 84% of its revenues from advertising in Google.