Google will ban all cryptocurrency-related advertising of all types in June 2018, according to a recent update to their Financial Services policy.
The news of a crypto ad ban comes just days after crypto advertisers using Google Adwords noticed a drastic drop in the number of views of their advertisements, according to posts on the Adwords support pages. However, Google Adwords had at that time denied any change in their Financial Services regulations that would block cryptocurrency or Initial Coin Offering (ICO) related advertisements.
Under Google’s newly updated financial products policy, no advertisements for “cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice),” will be accepted.
A state employee at Florida’s Department of Citrus (FDoC) has been arrested for allegedly using official computers to mine cryptocurrencies.
According to the Tampa Bay Times, the Florida Department of Law Enforcement (FDLE) has jailed Matthew McDermott, IT manager for the state government agency that oversees Florida’s citrus industry. He is reportedly being held pending trial, with bail set at $5,000.
The FDLE alleges that McDermott used computers in the department to mine cryptocurrencies including bitcoin and litecoin, and has charged him with grand theft and official misconduct, according to the report.
An investigation further indicated that the utility bill of the department had surged by over 40 percent from October 2017 to January 2018, as cryptocurrency mining requires significant amounts of electricity due to its high processing demands.