The American technology giant has announced plans to amend its approach to advertising by banning promotional campaigns for initial coin offerings and Bitcoin exchanges, as well as digital wallets.
The new policy is scheduled to be introduced in June, although the firm hasn't offered any specific reasons for the change.
The announcement has already caused the values of crypto-currencies to slide.
Google's decision comes shortly after American billionaire Bill Gates claimed that crypto-currencies are killing people in a "fairly direct way".
The Microsoft founder - who has turned his attention towards philanthropic work over recent years - made the statement in reference to the way digital currencies, like Bitcoin, are being used to buy potentially harmful drugs.
During an 'ask me anything' session on Reddit, Gates was asked about the impact of crypto-currencies, and he said: "The main feature of crypto-currencies is their anonymity. I don't think this is a good thing. The government's ability to find money laundering and tax evasion and terrorist funding is a good thing."
Gates also addressed the issue of crypto-currencies being used to buy drugs.
He said: "Right now, crypto-currencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way.
"I think the speculative wave around ICOs [initial coin offerings] and crypto-currencies is super risky for those who go long."