Google to Ban Bitcoin, Other Crypto Advertisements From June – BTCUSD Positive
Mar, 14th 10:47
Google said on Wednesday it will ban advertisements for cryptocurrencies and related content starting in June. The internet-search giant is also restricting ads for financial products including binary options, a risky derivative with an all-or-nothing payoff. Right now, Google queries for terms like “binary options” and “buy bitcoin” produce four ads at the top of the results, reports Bloomberg.
In January, Facebook took a similar step by blocking advertisements for cryptocurrencies. Facebook, Google’s primary rival for ad dollars, banned ads for cryptocurrencies in January. Some aggressive businesses found a loophole: purposely misspelling words like “bitcoin” in their ads. A Google spokeswoman said the company’s policies will try to anticipate workarounds like this, as per the report.
“Improving the ads experience across the web, whether that’s removing harmful ads or intrusive ads, will continue to be a top priority for us,” Scott Spencer, director of sustainable ads, said.
Bitcoin is trading 0.44% higher at 9,125.0 on Wednesday.
On the technical charts BTC/USD is trading positive but below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 43.67 and the MACD is below the signal line. The market is expected to trade in the positive zone for the day.
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