Google prohibits advertising on cryptocurrencies

Google prohibits advertising on cryptocurrencies. The search engine closes to digital currencies, like Facebook.

Google is updating its advertising policies related to financial services, in order to prohibit any advertising on cryptocurrency content, including initial coin offers (ICOs), wallets and trading tips. To reveal it to CNBC is Scott Spencer, Google's advertising director, who anticipates a novelty on the basis of which even the companies that legitimately offer cryptocurrency will not be allowed to publish advertisements through Google promotional products.

With effect from the month of June 2018, the update seems to retrace an increasingly broader international path: the same approach has in fact also been applied by Facebook, earlier this year.

"We don't have a crystal ball to know what will happen to the future." cryptocurrency, but we have seen that they can represent a potential damage for the consumer, and it is an area that we want to face with extreme caution "- said Scott.

In short, even if the tree of cryptocurrency has produced important profits in recent months, it is true that it is a largely unregulated space and that unfortunately favored the generation of high-profile scams.

On the occasion of the publication of the annual report on "trust" and "security", Google took the opportunity to point out that it had removed more than 3,2 billions of advertisements in the 2017 that violated their policies, or almost double the 1,7 billions of ads removed the previous year.

The parent company of Google, the holding Alphabet, produces about 84 percent of its total advertising revenue. It follows that convincing advertisers that their ecosystem is safe and effective is of fundamental importance. And, at the expense of it, cryptocurrencies were evidently.