Cryptocurrency scammers are taking full advantage of popular online platforms to trick people into parting with their hard earned money. Both Facebook and Twitter have now taken steps to clamp down on cryptocurrency scams prevailing on their social networks. Google has announced today that it’s not going to allow advertisements promotion initial coin offerings or cryptocurrencies starting this June.


Google has updated its ads policy to confirm that cryptocurrency and ICO-related ads will no longer be accepted. It has also banned ads for other risky financial products so aggregators and affiliates will no longer be able to push such ads through Google.

Merely searching for a cryptocurrency on Google yields countless ads that either promote easy ways of acquiring said digital currencies or courses that claim to teach methods through which people can become millionaires essentially overnight by putting their money in dubious digital assets.

It goes without saying that scammers will try to come up with ways to circumvent Google’s bans on such ads. This cat and mouse game will continue now as Google will be quick to ban workarounds if any.

The same treatment is being meted out to ads for binary options and similar products. Advertisers offering contracts for difference, rolling spot forex, and financial spread betting will have to be certified by Google before they can advertise through AdWords, however, certification will only be available in select countries.

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