Google follows Facebook in banning cryptocurrency ads
Cryptocurrency ads will effectively be banned from Google (GOOGL), a result of the search engine giant changing its financial product policy this June.
In a blog published by Google, the company noted that it would change its existing financial product restriction list and that will blacklist ad content "including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice," as reported by Coindesk.
Facebook (FB) recently announced a similar move while at the same time governments around the world have moved to crack down on cryptocurrencies.
According to Coindesk, bitcoin, the largest cryptocurrency by market capitalization, was trading down about 5% on Wednesday. With bitcoin priced below $9,000, it was well off of its all-time high of just below $20,000.