Wednesday July 18, 2018
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After Facebook, Google to ban cryptocurrency ads

Updating its financial services-related ad policies to ban any advertising about cryptocurrency-related content, including initial coin offerings (ICOs), wallets and trading advice

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  • Google also bans cryptocurrency ads
  • Earlier facebook banned them as well
  • The ban will come into force from July

Taking a cue from Facebook, Google has announced that it will ban advertisements for cryptocurrencies and other “speculative financial products” across its ad platforms. The ban on such advertisements will come into force from June.

“We updated several policies to address ads in unregulated or speculative financial products like binary options, cryptocurrency, foreign exchange markets and contracts for difference (or CFDs),” Scott Spencer, Google’s Director of Sustainable Ads, said in a blog post on Tuesday.

Facebook one of the most popular apps in US. Pixabay
Earlier Facebook had banned cryptocurrency ads. Pixabay

“In June 2018, Google will update the financial services policy to restrict the advertisement of contracts for difference, rolling spot forex and financial spread betting,” Google said.

Updating its financial services-related ad policies to ban any advertising about cryptocurrency-related content, including initial coin offerings (ICOs), wallets and trading advice, the Alphabet-owned company said that this policy will apply globally to all accounts that advertise these financial products. In 2017, Google took down more than 3.2 billion ads that violated its advertising policies.

Also Read: Twitter working to fix cryptocurrency scam issue

“That’s more than 100 bad ads per second! This means we’re able to block the majority of bad ad experiences, like malvertising and phishing scams, before the scams impact people,” Spencer added.

Google also blocked 79 million ads in its network for attempting to send people to malware-laden sites and removed 400,000 of these unsafe sites last year. “We removed 66 million “trick-to-click” ads as well as 48 million ads that were attempting to get users to install unwanted software,” the company said.

Last year, Google removed 320,000 publishers from its ad network for violating its publisher policies and blacklisted nearly 90,000 websites and 700,000 mobile apps. Scammers are using “crypto-jacking” or putting lines of code in websites or ads to surreptitiously harness the computing power of the web surfers who look at them.

The power is used to mine cryptocurrency — a digital form of money that has no government or central-bank printing it or standing behind it. In January, social media giant Facebook banned all ads promoting cryptocurrencies, including Bitcoin and ICOs.

The new policy prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, Facebook said in a statement.

“We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception.

“That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith,” said Rob Leathern, Product Management Director at Facebook.

Facebook invests big in Community Leaders Program. AFP
Facebook representatives say that companies dealing with cryptocurrency are not currently working in good faith. AFP

However, according to DD Mishra, Research Director, Gartner, there have been instances of fraudulent advertisement from some of the bitcoin-based financial products, like the cryptocurrency-based investment funds which are banned in some countries.

“There are also lots of misleading speculations around cryptocurrencies. The concern Google or Facebook may have at this point in time for its customers may be genuine. But such policies to blanket ban certain products will have an adverse impact on its adoption as well,” Mishra told IANS. “A blanket ban for a longer or indefinite period can be counter-productive and may not be a sustainable option,” he added. IANS

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World Emoji Day: Apple, Facebook, Twitter Celebrate with New Emojis

US-based Internet domain registrar GoDaddy claimed to have seen a growth in visual pun emoji domains and major brands using emoji domains for their webpages

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Twitter has been actively introducing a variety of culture, entertainment, sports and news related emojis that range from iconic symbols to historic signs and motifs of festivals. (IANS)

Apple, Facebook, Twitter and other tech giants celebrated World Emoji Day on Tuesday with declaring most used and favourite emojis, announcement of new ones, acknowledging how emojis make conversataions easy and expressive without words, among others.

Apple announced over 70 new emoji characters with hair colour variations, gender-neutral characters, mythical creatures and more that would reach the users as part of a free update that Apple would bring to iOS 12 later this year, the iPhone maker wrote in a blog post.

Facebook and Messenger shared statistics and revealed that the “heart” emoji is one of the most used expression on the platforms.

“There are more than 2,800 emojis and almost all of them (2,300) are used each and every day on Facebook,” the company said in a statement.

The social networking giant also announced that new emojis, including a camera frame and a themed text feature would soon be part of Facebook and Messenger.

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Facebook and Messenger shared statistics and revealed that the “heart” emoji is one of the most used expression on the platforms. Pixabay

From being used only for creative expression by the millennials, to being Oxford dictionary’s “Word of the year 2015,” emojis are now also being embraced by brands across the globe.

Microblogging site Twitter also released a list of the top ten emojis used on its platform that included the “heart, fire, thumbs up and heart eyes” smileys.

“Keeping in mind the popularity of emojis, Twitter has been actively introducing a variety of culture, entertainment, sports and news related emojis that range from iconic symbols to historic signs and motifs of festivals,” Twitter said.

Also Read: Facebook Joins Skill India Mission to Train Empower youth

US-based Internet domain registrar GoDaddy claimed to have seen a growth in visual pun emoji domains and major brands using emoji domains for their webpages.

“Today, emojis have become an essential part of the online vocabulary. Driven by the rise of mobile internet usage in India, consumers are integrating emojis into their conversations with each other as well as with brands,” said Nikhil Arora, Managing Director and VP, GoDaddy India. (IANS)