Following Facebook’s ban in January, Google is also now seeking to ban cryptocurrency ads starting from the month of June.

This ban comes ‘as part of a clampdown on unregulated financial products‘, states The Guardian. The ban also includes cryptocurrency exchanges and wallets. The move follows similar bans made by advertising rival Facebook, which banned all cryptocurrency and ICO adverts in January after finding that many were being used to scam potential investors.

The announcement knocked the price of bitcoin by more than 5 per cent from about $9,200 to less than $8,700.