The new policy adopted by the Alphabet Inc-owned company will prohibit ads for binary options, cryptocurrencies, financial spread betting and other unregulated or speculative financial products, as revealed in a blog post published by the company. http://bit.ly/2Inxgg8
A subsequent blog entry showcased data that revealed that Google shut down over 3.2 billion ads that did not comply with its policies in 2017. The number is twice as big as the one corresponding to 2016.
Scott Spencer – director of sustainable ads -, said that “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.“
“Our work to protect the ads ecosystem doesn’t stop here—it’s ongoing. As consumer trends evolve, as our methods to protect the open web get better, so do online scams. 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.“
This follows a suit started by Facebook back in January. The platform announced that it would ban all cryptocurrency and initial coin offering-related ads at the beginning of the year.
The ban would have a blanket effect over Facebook‘s properties, including Instagram, Facebook itself and the Audience Network.
Not an absolute ban
While Google ban will have a blanket effect, registered platforms will be able to get certificated by the company. For that purpose, they will have to comply with a series of guidelines revealed in the pertaining blog post:
- Be licensed by the relevant financial services authority in the country or countries they are targeting
- Ensure their ads and landing pages comply with all AdWords policies
- Comply with relevant legal requirements, including those related to complex speculative financial products
Google will receive certification requests starting in March 2018.