Google banishes cryptocurrencies

Google banishes cryptocurrencies

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Google is banning cryptocurrencies. The search giant will no longer accept ads for crypto and related content including coin offerings, cryptocurrency exchanges, cryptocurrency wallets and related trading advice. The company says this is part of changes to its financial-services advertising policies.

The move follows Facebook’s announcement in January that it was banning all ads promoting cryptocurrencies to prevent the promotion of “financial products and services frequently associated with misleading or deceptive promotional practices”.

“We’ve seen enough consumer harm, or potential for consumer harm, that it’s an area that we want to approach with extreme caution,” said Scott Spencer, Google’s director of sustainable ads told CNBC.

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