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Google bans cryptocurrency-related ads

A pinata-style logo hangs in the Google Chicago office on February 23, 2009 in Chicago, Illinois. Photo: Scott Olson / Getty Images

Google is following in Facebook's footsteps and banning all ads related to cryptocurrencies, including initial coin offerings, tokens, wallets, and exchanges. The policy will go into effect in June, according to its website.

Why it's happening: The boom in cryptocurrencies and investing in token has attracted a fair share of fraudsters. Google is also among the Big Tech companies under government scrutiny for not doing more to stop the spread of fake news and political ads.

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