{"id":72988,"date":"2018-03-15T13:00:27","date_gmt":"2018-03-15T20:00:27","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=72988"},"modified":"2018-03-16T10:13:13","modified_gmt":"2018-03-16T17:13:13","slug":"google-to-block-cryptocurrency-skin-betting-and-forex-advertising","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/google-to-block-cryptocurrency-skin-betting-and-forex-advertising\/","title":{"rendered":"Google Blocks Cryptocurrency, Skin Betting, and Forex Advertising"},"content":{"rendered":"

Google has said it will block all advertising related to cryptocurrencies and ICOs, as well as certain kinds of gambling ads, as it moves to protect its “ads ecosystem\u201d from \u201cemerging threats.\u201d<\/p>\n

\"Google
Google\u2019s crypto ad ban announcement caused the price of bitcoin to briefly dive below the $8,000 mark as it damaged the credibility of cyptocurrencies as respectable, investable assets. (Image: Google)<\/figcaption><\/figure>\n

The search giant said its cryptocurrency ban also extends to exchanges and wallets. Gambling advertising that relates to skin betting<\/a> and \u201cspeculative financial products,\u201d such as binary options, foreign exchange markets and contracts for difference, will also be outlawed.<\/p>\n

The news, which follows a similar announcement by Facebook<\/a> at the end of January, caused the value of bitcoin to briefly drop to a low of $7,676, its lowest price in five weeks, before rallying slightly.<\/p>\n

\u201cOur work to protect the ads ecosystem doesn’t stop here \u2013 it’s ongoing,\u201d said Google\u2019s director of sustainable ads, Scott Spencer, in a blogpost. \u201cAs 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.\u201d<\/p>\n

3.2 Billion Ads Blocked Last Year<\/strong><\/h2>\n

Google, which already blocks ads for unregulated online gambling sites, said it removed more than 3.2 billion ads that breached its terms and conditions in 2017. These includes malvertising and phishing scams as well as payday loan companies. In 2016, it eradicated over 17 million ads that promoted illegal, unlicensed online gambling.<\/p>\n

Alphabet, Google\u2019s parent company, relies on advertising for around 85 percent of its revenue. In 2018 it\u2019s expected to generate some $40 billion from advertising \u2013 twice as much as Facebook and nearly half the entire global online advertising market.<\/p>\n

The ad bans from both Google and Facebook are damaging to\u00a0bitcoin’s reputation as supposedly respectable, mainstream investment vehicle.<\/p>\n

Facebook Targets Scammers <\/strong><\/h2>\n

Facebook said in January that it would introduce\u00a0a blanket ban on crypto ads because of concerns over scammers. It cited as examples messages that exhorted people to \u201cuse your retirement funds to buy bitcoin!\u201d and, \u201cclick here to learn more about our no-risk cryptocurrency.\u201d<\/p>\n

\u201cWe want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception,\u201d said Facebook product management director Rob Leathern in an official statement.<\/strong><\/p><\/blockquote>\n

Wednesday\u2019s bitcoin plunge was also driven by a blog post from Christine Lagarde, head of the International Monetary Fund. She called on regulators around the world to crack down on cryptocurrencies\u2019 potential as a \u201cmajor new vehicle for money laundering and the financing of terrorism.\u201d She also said their \u201cextreme volatility\u201d could create new vulnerabilities in the financial system.<\/p>\n","protected":false},"excerpt":{"rendered":"

Google has said it will block all advertising related to cryptocurrencies and ICOs, as well as certain kinds of gambling ads, as it moves to protect its “ads ecosystem\u201d from \u201cemerging threats.\u201d The search giant said its cryptocurrency ban also extends to exchanges and wallets. Gambling advertising that relates to skin betting and \u201cspeculative financial […]<\/p>\n","protected":false},"author":42,"featured_media":72992,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,19,13592],"tags":[],"acf":[],"yoast_head":"\nGoogle Blocks Cryptocurrency, Skin Betting and Forex Advertising<\/title>\n<meta name=\"description\" content=\"Google blocks cryptocurrency and ICO advertising, as well as ads for skin betting and risky financial products like Forex. 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The announcement caused a dip in the value of bitcoin on Wednesday.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/google-to-block-cryptocurrency-skin-betting-and-forex-advertising\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-15T20:00:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-03-16T17:13:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/03\/Google-HQ.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"960\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/google-to-block-cryptocurrency-skin-betting-and-forex-advertising\/\",\"url\":\"https:\/\/www.casino.org\/news\/google-to-block-cryptocurrency-skin-betting-and-forex-advertising\/\",\"name\":\"Google Blocks Cryptocurrency, Skin Betting and Forex Advertising\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/google-to-block-cryptocurrency-skin-betting-and-forex-advertising\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/google-to-block-cryptocurrency-skin-betting-and-forex-advertising\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/03\/Google-HQ.jpg\",\"datePublished\":\"2018-03-15T20:00:27+00:00\",\"dateModified\":\"2018-03-16T17:13:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Google blocks cryptocurrency and ICO advertising, as well as ads for skin betting and risky financial products like Forex. 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