Reddit announced plans to ban cryptocurrency-related Google cached ads, March 14, 2018.
Tech companies such as Facebook and Google recently announced the banning of ads promoting cryptocurrencies on their platforms. However, Reddit claims to have been implementing these rules since early 2016, and did not tell the press about it.
Reddit has now announced its plans to extend its policy, to block cryptocurrency-related Google cached ads.
Several subreddits discuss various cryptocurrencies and nuances behind mining, investing in different currencies, accessing the dark web, and also find posts on updates to these digital currencies.
Reddit said “Ads for cryptocurrencies and ICOs have not been allowed on Reddit since early 2016…Sections II.5 and II.6 of our advertising policy prohibit ‘improbable, or unsubstantiated financial products and services’ and ‘the promotion or advertisement of single securities or other tradeable financial assets.’”
If a user browses initial coin offerings and investments in excess, they would automatically appear in a Google-served ad on Reddit. However, to avoid this, and stick with its ban, the company blocked cryptocurrency advertisers, supporting the shrinking of cryptocurrency ads over social media.