Bitcoin's Move Towards $10000 Mark Is Thwarted By Google's Ban

After Facebook, Google bans ads on unregulated cryptocurrencies, foreign exchange markets

Google banning cryptocurrency-related advertising, as the company has set to upgrade all its ad policies related to the financial services.

A bitcoin (virtual currency) coin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017.

This particular approach from Google is in line with Facebook's decision to ban Crypto-related ads on their ad platform.

Google's move to change its policy comes alongside the release of its yearly "bad ads" report, or its review of malicious and controversial advertisements. This year it will address "ads in unregulated or speculative financial products", according to a separate statement from its director of sustainable ads, Scott Spencer. Under the new guidelines, Google said that starting in June, several types of financial-related ads would be banned from its sites, including "cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)". Google says it will anticipate workarounds like this in its own implementation of a wider ban against cryptocurrency ads. "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", the company stressed. Google is also accelerating a push against misleading content. Google suspended about 7,000 customer accounts for ads that impersonated a news article - what Google calls "tabloid cloaking" - and blocked more than 12,000 websites for plagiarizing. In 2017, the company removed 320,000 "bad publishers" from its ad network, up from 100,000 in 2016. Right now, Google queries for terms like "binary options" and "buy bitcoin" produce four ads at the top of the results. Scammers are using "crypto-jacking" or putting lines of code in websites or ads to surreptitiously harness the computing power of the web surfers who look at them.

Weekend Box Office: Wrinkle Wrinkle Little Star
Paramount's third weekend of sci-fi horror movie " Annihilation " came in eighth with $3.3 million at 1,709 screens. The final new-release debut of the weekend , The Hurricane Heist , debuted at number eight with $3.2 million.

Cryptocurrencies are known to be notoriously volatile, so some governments are working to clamp down on the digital money.

Twitter said earlier this month that it is also taking steps to crack down on cryptocurrency advertisements, but has not yet taken as strong a stance as Facebook and Google.

Users would also have to "comply with relevant legal requirements, including those related to complex speculative financial products". Facebook said at the time most cryptocurrency advertisers were not "operating in good faith".

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