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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 to introduce twitter-like updates to the artists. Wikimedia Commons
Tenor is an online GIF platform. Wikimedia Commons
  • 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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Google Launching New Photo Back up Options For Users in India

Launched in May 2015, Google Photos is a photo sharing and storage service developed by the search-engine giant that gives users free, unlimited storage for their photos

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Google
The Google logo is seen at a start-up campus in Paris, France, Feb. 15, 2018. VOA

Google Photos on Monday launched its “Express” back-up feature for users in India. The feature will be available to a small percentage of Google Photos users on Android.

It allows faster back up at reduced resolutions, making it easier to store pictures even with poor or infrequent Wi-Fi availability, the company wrote in a blog post.

“We learned that over a third of the people using Google Photos in India have some photos that hadn’t been backed up in over a month. We want to make sure that our app meets the unique needs of people wherever they are,” the post said.

Google on an Android device. Pixabay

“You will still have the option to choose from the existing back-up options: Original Quality and High Quality,” the post said.

In addition to “Express”, Google will also introduce a new “Data Cap” option for back up to give users more granular daily controls for using cellular data to back up.

Also Read- 4,000 Viewed NZ Mosques Shootings Live, Claims Facebook

The company is slowly releasing the “Express” back-up feature for Google Photos in others countries as well, the post added.

Launched in May 2015, Google Photos is a photo sharing and storage service developed by the search-engine giant that gives users free, unlimited storage for their photos. (IANS)