Internet giant Google has announced its decision to crack down cryptocurrency-related content such as advertisement of ICOs, cryptocurrency wallets and exchanges. The new rules will take effect in June.

This move is a part of Google’s updated financial services policy, which aims to restrict risky products. In fact, with the growing popularity of cryptocurrency, lots of scammers have showed up on the market. Аccording to Google’s recent report, in 2017, the company removed 3,2 billion so-called “bad ads”, which is nearly twice as many as in 2016.

"We don't have a crystal ball to know where the future is going to go with cryptocurrencies, but we've seen enough consumer harm or potential for consumer harm that it's an area that we want to approach with extreme caution,” Scott Spencer, Google’s director of sustainable ads, said.

Google’s ban follows a similar step by Facebook. In January leading social network announced plans to prohibit ads for digital currency.