The search giant has announced that it is cracking down on ads promoting virtually anything related to cryptocurrencies, reports CNBC. Google is updating its financial services-related advertising policies to forbid any ads related to cryptocurrencies, including ads about wallets, initial coin offerings (ICOs), or even advice about cryptocurrency trading. Speaking to CNBC, Scott Spencer, Google’s director of sustainable ads, said:
“We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution.”
Google’s cryptocurrency ad ban follows a similar ban by Facebook earlier this year.