Google will ban ads related to cryptocurrencies

Through an update to its advertising policies related to financial services, all ads related to cryptocurrencies will be banned from Google. As both public agencies and regulators are increasingly aware of the success and shortcomings of cryptocurrencies, the search engine company has decided to take a reluctant stance, at least until cryptocurrencies are better regulated by the agencies.

Cryptocurrency announcements will be banned from June

One thing is clear, cryptocurrencies are here to stay and they seem like big business, but they also lack regulation by the states, this leads to potential scams and Google wants nothing to do with it.

Google's director of sustainable advertising, Scott Spencer told CNBC; "We don't have a crystal ball to know where the future of cryptocurrency is going to go, but we've seen enough consumer harm or potential for consumer harm that is an area that we want to address with extreme caution . " The new approach will apply to initial coin offerings (ICOs), portfolios, and trading advice alike, beginning in June this year.

This seems to be a blow to the liver for mining, preventing new users from entering this type of initiative. Although there are cryptocurrency ads that seem dubious, this also affects other much more serious initiatives that will not be able to have their advertising on Google either, so everyone loses.

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