Google to ban cryptocurrency and related advertisements

FILE- This April 26, 2017, file photo shows Google's web address, in Philadelphia. Google says it is going to ban advertisements for cryptocurrencies such as bitcoin, as well as related content like trading advice and cryptocurrency wallets. (AP Photo/Matt Rourke, File)
FILE- In this Dec. 21, 2017, file photo, a Bitcoin logo is shown is displayed on an ATM in Hong Kong. Google says it is going to ban advertisements for cryptocurrencies such as bitcoin, as well as related content like trading advice and cryptocurrency wallets. (AP Photo/Kin Cheung, File)

NEW YORK — Google says it is going to ban advertisements for cryptocurrencies such as bitcoin, as well as related content like trading advice and cryptocurrency wallets.

The new policies, which also ban other complex financial products, will go into effect in June.

The Mountain View, California-based company announced the change Wednesday.

The move follows a similar step by Facebook earlier this year. The social networking giant updated its ad policy in January to ban financial products often associated with deceptive practices, including those involving cryptocurrencies such as bitcoin.

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