Under the new policy, the company will ban advertisements for unregulated or speculative financial products like binary options, cryptocurrencies and digital financial spread betting among others.

A bitcoin (virtual currency) coin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017.
A bitcoin (virtual currency) coin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. ( Reuters )

Google said on Wednesday it will ban advertisements for cryptocurrencies and related content starting in June.

Under the new policy, the company will ban advertisements for unregulated or speculative financial products like binary options, cryptocurrencies and digital financial spread betting, among others. 

In a separate blog post, Google said it took down 3.2 billion advertisements that violated its advertising policies in 2017, nearly double the number of advertisements it removed in 2016.

"Improving the ads experience across the web, whether that's removing harmful ads or intrusive ads, will continue to be a top priority for us," Scott Spencer, director of sustainable ads, said.

In January, Facebook Inc said it will ban advertisements promoting financial products and services tied to cryptocurrencies and initial coin offerings.

The policy will be implemented across its platforms, including Facebook, Audience Network and Instagram, the company said.

Source: Reuters