google bans bitcoin
Image: Google

Google follows Facebook’s footstep to announced that it will no longer allow cryptocurrency-related ads on its platforms starting from June 2018.

This means advertisements for bitcoin and other virtual currencies will soon disappear from Google.

Google and Facebook control somewhere between 60 and 70 percent of the online advertising market, so no one wants to be on their bad side. In a blog post on Tuesday.

The new policy applies to a range of financial services. In the crypto-sphere, Google will now prohibit promotions of “Cryptocurrencies and related content, including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice.”

The move comes as Google and Facebook confront pressure to purge their networks of scams, misleading advertising, and political propaganda. Cryptocurrencies are not necessarily scams by default, but US regulators have warned that there’s a high risk of fraud in this market. A recent analysis found that 59 percent of 2017’s ICOs are have already failed or are on the verge of failing.

What is the future of Cryptocurrency?

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