Alphabet's Google announced the decision Wednesday night in an update to its policy, which says it will begin to block ads for "cryptocurrencies and related content".
According to her, this new technology has been critical in helping to scale enforcement for policies that prohibit monetization of inappropriate and controversial content.
This year, it plans to add several new policies that "will address ads in unregulated, overly complex, or speculative financial products" like binary options, cryptocurrency, foreign exchange markets and contracts for difference.
Facebook, Google's primary rival for ad dollars, banned ads for cryptocurrencies in January.
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Google appeared to have started quietly restricting cryptocurrency-related ads as early as last week, with some advertisers seeing significant performance drops for ICO-related ads. A Google spokeswoman said the company's policies will try to anticipate workarounds like this. We blocked 79 million ads in our network for attempting to send people to malware-laden sites, and removed 400,000 of these unsafe sites a year ago.
Fraudsters have moved into the cryptocurrency space to defraud internet users, and Google said it took down 3.2 billion adverts violating its advertising policies in 2017, almost double the number it removed in 2016. Google is also accelerating a push against misleading content.
Of the 1.7 billion ads, 79 million were attempting to send people to malware-laden sites - Google removed 400,000 of these unsafe sites past year. Last year, the web giant and Facebook collectively took roughly two-thirds of USA digital ad revenues.
Google ensures the integrity of their ads ecosystem, and ensuring that people who interact with their ads have a safe and positive experience is something they remain committed to.
Additionally, the Silicon Valley powerhouse said it blocked more than 12,000 websites for copying content from other sites.