Internet giant Google LLC is implementing a curb on ads for risky investment products, such as binary options, contracts for difference (CFDs) and crytocurrencies.
The Mountain View, Calif.-based company on Wednesday announced a new policy today to restrict financial products ads, which will take effect in June.
The new policy will include an outright ban on ads for binary options, cryptocurrencies and related content, including initial coin offerings, cryptocurrency exchanges, wallets, and trading advice, Google says in a blog post.
The technology company has updated its policies to restrict ads for CFDs, rolling spot forex, and financial spread betting by requiring advertisers of these products to be certified by Google before they can advertise.
To be certified, advertisers will need to be licensed with regulators in the countries where they advertise, and comply with legal requirements, including any requirements for complex speculative financial products.
Last year, Canadian regulators adopted a ban on retail trading in binary options. The Canadian Securities Administrators has targeted tech companies, advertisers, and credit card companies, in an effort to shut down fraudulent schemes involving these sorts of products.