Google has announced it will be banning adverts for cryptocurrency across all its platforms.
The search giant has revealed a crackdown on all cryptocurrency-related content, including adverts for ICOs, exchanges, digital wallets, and trading advice.
The ban, set to come into force in June 2018, will also mean that even legitimate cryptocurrency vendors and traders will be blocked from using Google AdWords to show off their services, and follows a similar move by Facebook back in January.
Google outlined the changes in an update to its financial services products policy, adding that the new regulations will extend to aggregators and affiliates using its services – meaning third-party sites will also be affected.
“We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution,” Scott Spencer, Google’s director of sustainable ads, told CNBC.
Companies looking to advertise rolling spot forex and financial spread betting will also now need certification from the company in order to advertise through AdWords.
The certification process is open now, but Google notes that any company wishing to be successful will need to be licensed by the relevant financial services authority in the country or countries they are targeting, as well as ensuring they comply with relevant legal requirements.