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Tech Google to stop running Cryptocurrencies, other synonymous ads from June 2018

Google's new policies are coming at a time Twitter is working on checking the excesses of the Cryptocurrencies in an effort to fight scams.

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Bitcoin and other cryptocurrencies are becoming more popular than cash in Africa play

Bitcoin and other cryptocurrencies are becoming more popular than cash in Africa

(QZ.com)

Google has announced the ban of cryptocurrency and other related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice) or initial coin offering (ICO) ads starting from June 2018.

The company made the announcement in an update posted on its Advertising Policies document on Wednesday, March 14, 2018

Scott Spencer, Google's Director of Sustainable Ads, said in a blog post on Wednesday that the company has "updated several policies to address ads in unregulated or speculative financial products like binary options, cryptocurrency, foreign exchange markets and contracts for difference (or CFDs)."

ALSO READ: Cryptocurrencies are falling after Google's advertising ban

Google to stop running Cryptocurrencies, other synonymous ads from June play

Google to stop running Cryptocurrencies, other synonymous ads from June

 

The new policies, which come into force in June, ban adverts for binary options and "cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)."

Google's new policies are coming at a time Twitter is working on checking the excesses of the Cryptocurrencies and after Facebook placed ban cryptocurrency related advertising on its platform in January 2018 in an effort to fight scams.

In Nigeria, the Central Bank had earlier in January issued warning to Nigerians that digital currencies are not legal tender in the country.

The CBN went ahead to name the Digital currencies such as Bitcoin, Ripples, Monero, Litecoin, Dogecoin, OneCoin e.t.c and reiterated that they are not backed by law in Nigeria as a legal tender.

Of all digital currencies, Bitcoin is the best performing and with the highest value, the Bitcoin Price Index is seen at $9,095 - down 0.5 percent for the session on Wednesday, according to CoinDesk.

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