Google joining Facebook in crypto ad crackdown

It was revealed earlier in the week that Facebook would be zeroing in on crypto advertising in an attempt to protect users from fraudsters, and now Google is joining the social network.

However, reports UberGizmo, Google may be taking a softer approach that involves identifying abuse of the ads platform rather than outright banning all crypto-related content like Facebook. Policies will be put into place that will help the ads team to do this.

The problem with crypto advertising? The popularity of bitcoin and other currencies has led to “bad actors” in the space misleading consumers and using their comparitive ignorance to gain access to CPU power that helps them mine for cryptocurrencies.

In a statement made to Fast Company, Google said: “Mining cryptocurrency through ads is a relatively new form of abuse that violates our policies and one that we’ve been monitoring actively. We enforce our policies through a multi-layered detection system across our platforms which we update as new threats emerge.”