Google AdWords To Ban Cryptocurrency Advertising

Cryptocurrency market reacts negatively

Cryptocurrency markets have reacted negatively to Google AdWords announcement that it will ban all cryptocurrency related adverts from June 2018.

Citing consumer protections, Google’s new Financial services policy lays out restrictions on financial spread betting, binary options, and cryptocurrencies and related content, including but not limited to, initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice.

In addition, the gambling ad policy has been updated to address “new methods of gambling with items that have real-world value (eg, skins gambling),” a statement reads.

In a comment to CNBC, Scott Spencer, director of sustainable ads for Google, said: “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.”

The majority of cryptocurrency values have dropped over the past 24 hours on the back of the announcement – Bitcoin by 8.37 percent, Ethereum by 9.15 percent, Ripple by 8.76 percent, Monero by 12.58 percent and NEO by 12.77 percent, to name a few.

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Brian Cullingworth

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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