Youtube and Google Bans Cryptocurrency [Bitcoin and Cryptocurrency News]

Google said on Wednesday it will ban
cryptocurrency adverts from across its networks from this June
a move that prompted a $600 drop in the price of Bitcoin the decision comes
weeks after Facebook announced a similar ban on January and Google’s ban will be
imposed across its search and display advertising network as well as YouTube
scammers have sought to capitalize on the combination of a growing interest
among the general public in crypto currencies and a lack of technical
understanding of how they work Google said from June it will no longer allow
ads for crypto currencies and related content including but not limited to
initial coin offerings crypto currency exchanges cryptocurrency wallets and
crypto currency trading advice 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 Scott Spencer director of sustainable ads said in a blog post
Spencer said Google removed 3.2 billion ads that violated its policies which
equates to more than 100 bad ads every second it was more than double the
amount removed in 2016 he told The Wall Street Journal the company removed more
than 130 million ads that were used by hackers to mine for crypto currency a
process known as crypto jacking the announcement had an immediate impact on
the markets bitcoins price fell from almost nine thousand three hundred
dollars to below eight thousand six hundred and fifty dollar in a few hours
with the rest of the cryptocurrency markets with a couple of exceptions
following suit when Facebook implemented it’s been at the end of January
enterprising advertisers found workarounds including purposely
misspelling Bitcoin Google said it his policy will attempt
to anticipate these tricks

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