Where it is unlikely that the upcoming ban on cryptocurrency ads would have any serious impact on Google ads sales, the ban would be of great help to unsuspecting and novice investors to protect them from companies who are advertising binary options, ICOs and cryptocurrencies that are not now operating in good faith.
Following in the footsteps of Facebook, the worlds largest search engine and enormous advertising platform has banned all cryptocurrency advertising as of June 2018. That ban goes for both ads on Google's own website and sites Google serves on other sites. In 2017, Google took down more than 3.2 billion ads that violated its ad policies-or roughly 100 bad ads per second, Spencer said. This is almost twice the number of bad ads it chose to pull down in 2016.
In addition to removing harmful or intrusive ads, the tech giant is also taking measures to keep the ad ecosystem free of ads related to promoting fraudulent financial products.
Last year, Google struggled to address advertisers' concerns that ads were being run alongside objectionable content.
It's unlikely that the 3.2 billion ads pulled in 2017, nor the coming cryptocurrency ban, will have a serious impact on sales.
With a change of policy, Google has announced a new hardline approach with a crackdown on cryptocurrency-related advertising. The current Bitcoin price, as per Coindesk, is $8100, which is not even half of what it was fetching just three months back. Facebook banned ads involving ICOs and bitcoin in a bid to put a stop to promotions related to cryptocurrencies, which often hoodwink investors. "And, we removed 66 million "trick-to-click" ads as well as 48 million ads that were attempting to get users to install unwanted software". But a WSJ report on the topic quotes an earlier Google statement, where it claimed to have removed 130 million ads by hackers who were using them to mine for cryptocurrencies. Those apart, any independent digital currency ads too will cease on existing on any of Google sites.
Cryptocurrency-related businesses are not the only ones hit by Google's policy update.
Aside from scams, governments are also beginning to step in with plans to regulate cryptocurrency over fears that it is being used to fund criminal activity.