Google Bans Cryptocurrency Advertisements

Google is joining Facebook in banning advertising for Bitcoin and other cryptocurrencies.

Google joins with Facebook to ban Bitcoin advertisements. On Tuesday, the company announced its plans to change advertising policy for certain financial services, including cryptocurrencies. This new limitation would apply to both space on Google’s platforms, like YouTube, and to third-party websites where Google sells advertising space.

The announcement about Google’s advertising policies didn’t explain why Google planned to turn away that advertising. The company said the ban also applied to content related to cryptocurrencies.

The concerns around Bitcoin and other cryptocurrencies has raised questions about scammers using online advertisements to recruit potential marks enticed by the surge in prices for most virtual currencies. Advertising for new virtual currencies exploded late last year when prices jumped.

There was a little hesitation from regulators about that activity. Many start-ups sold their own custom virtual currencies in so-called initial coin offerings, which became a popular way to raise money to fund new software projects. The popular way to market the coins to new customers was online advertising.

American regulators recently have found out, that many of the coin offerings were most likely illegal. That has pushed down the prices of most virtual currencies and dampened the market for the ads

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