Google will use the same technology to ban cryptocurrency advertising as it uses against the promotion of counterfeit items or sexually explicit content.
Google will ban the advertisements related to cryptocurrencies and Initial Coin Offerings from June.
The internet-search giant is also restricting ads for financial products including binary options, a risky derivative with an all-or-nothing payoff.More news: Positive energy, genuine affection in Sonia's dinner: Rahul
Facebook took a similar step in January, banning all ads that promote cryptocurrencies in an effort to stamp out what it characterizes as "financial products and services frequently associated with misleading or deceptive promotional practices".
Google said that a year ago it took down over 3.2 billion ads that violated its advertising policies, removed 320,000 publishers from its ad network for violating its publisher policies, and blacklisted almost 90,000 websites and 700,000 mobile apps.
Stansfield revealed that many website owners used the firm's advertising platforms, like AdSense, to run Google ads on their sites and content and make money.She said Google paid $12.6 billion back to the publishing partners in its ad network past year. This coincided with a boom in so-called initial coin offerings (ICOs), where startups issue their own cryptocurrency in exchange for money to build their business. Business Insider reported previous year on the proliferation of "pump and dump" scams in the market, while sham ICO projects have become commonplace. Also included were 66 million "trick-to-click" ads in 2017 and 48 million ads that were attempting to get users to install unwanted software.More news: Jeff Goldblum Returns as Dr
Binary options allow people to make a bet on the expected value or price of something that can be measured in financial terms, such as a stock, commodity, currency or index. Providers typically offer leverage - borrowed money to invest with - of up to 50:1.
Facebook, Google's primary rival for ad dollars, banned ads for cryptocurrencies in January.
In 2017, they removed 320,000 bad publishers from their ad network (up from 100,000 in 2016).More news: Arun Jaitley files nomination for Rajya Sabha polls from Uttar Pradesh
As Google implement these new changes, the Google ad's network becomes a lot safer, resulting in websites and blogs not having to worry about the ads that appear via Google's Adsense program.
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