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After Facebook, Google to ban cryptocurrency ads (Lead)

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San Francisco, March 14 (IANS) Taking a cue from Facebook, Google has announced that it will ban advertisements for cryptocurrencies and other “speculative financial products” across its ad platforms.

The ban on such advertisements will come into force from June.

“We updated several policies to address ads in unregulated or speculative financial products like binary options, cryptocurrency, foreign exchange markets and contracts for difference (or CFDs),” Scott Spencer, Google’s Director of Sustainable Ads, said in a blog post on Tuesday.

“In June 2018, Google will update the financial services policy to restrict the advertisement of contracts for difference, rolling spot forex and financial spread betting,” Google said.

Updating its financial services-related ad policies to ban any advertising about cryptocurrency-related content, including initial coin offerings (ICOs), wallets and trading advice, the Alphabet-owned company said that this policy will apply globally to all accounts that advertise these financial products.

In 2017, Google took down more than 3.2 billion ads that violated its advertising policies.

“That’s more than 100 bad ads per second! This means we’re able to block the majority of bad ad experiences, like malvertising and phishing scams, before the scams impact people,” Spencer added.

Google also blocked 79 million ads in its network for attempting to send people to malware-laden sites and removed 400,000 of these unsafe sites last year.

“We removed 66 million “trick-to-click” ads as well as 48 million ads that were attempting to get users to install unwanted software,” the company said.

Last year, Google removed 320,000 publishers from its ad network for violating its publisher policies and blacklisted nearly 90,000 websites and 700,000 mobile apps.

Scammers are using “crypto-jacking” or putting lines of code in websites or ads to surreptitiously harness the computing power of the web surfers who look at them.

The power is used to mine cryptocurrency — a digital form of money that has no government or central-bank printing it or standing behind it.

In January, social media giant Facebook banned all ads promoting cryptocurrencies, including Bitcoin and ICOs.

The new policy prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, Facebook said in a statement.

“We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception.

“That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith,” said Rob Leathern, Product Management Director at Facebook.

However, according to DD Mishra, Research Director, Gartner, there have been instances of fraudulent advertisement from some of the bitcoin-based financial products, like the cryptocurrency-based investment funds which are banned in some countries.

“There are also lots of misleading speculations around cryptocurrencies. The concern Google or Facebook may have at this point in time for its customers may be genuine. But such policies to blanket ban certain products will have an adverse impact on its adoption as well,” Mishra told IANS.

“A blanket ban for a longer or indefinite period can be counter-productive and may not be a sustainable option,” he added.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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