Google To Ban Cryptocurrency Ads Amid Crackdown

Google's ban will affect cryptocurrency related content such as ICOs wallets and exchanges

Google's ban will affect cryptocurrency related content such as ICOs wallets and exchanges

It looks like all of the big players in the tech industry are banning cryptocurrency ads as a collective, with Google and Facebook already slamming down the cryptocurrency ad ban hammer.

The microblogging site's move comes as Facebook and Googles placed restrictions on financial advertisements in a bid to protect their users from scams and being linked to illicit activities.

Twitter hasn't confirmed or denied this as yet but if it does decide to implement a blanket ban on cryptocurrency-related ads, it wouldn't be surprising.

Sky news reports that Twitter is preparing to prohibit a range of cryptocurrency advertisements amid looming regulatory intervention in the sector.

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Sky News reported Sunday that the USA -based social networking giant is looking to roll out a policy in the next two weeks that will block ads associated with cryptocurrency wallets, exchanges and initial coin offerings, with limited exceptions. The ban announced by Google would become effective in June, 2018. Analysts believe the recent dip in the cryptocurrency market may be a direct effect of the ban imposed by Google and Facebook.

"Improving the ads experience across the web, whether that's removing harmful ads or intrusive ads, will continue to be a top priority for us", said Scott Spencer, director of sustainable ads at Google, on the company's official blog, The Keyword.

Bitcoin and its cryptocurrency siblings such as ethereum have exploded in popularity over the last couple of years, fueling a rapid growth in value peaking at just under $20,000 per bitcoin in 2017.

Facebook took a similar step in January.

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