It's not bad news, it's good news.
Most of those ads were for phishing sites, designed to steal people's log-ins for the exchanges. It gave noobs a bad impression that the crypto space was full of scams and crooks.
Same, i partially support Google in their move.
ICO scammy ads are popping everywhere and many people once seeing multiple ads tend to trust it and fall in this sometimes obvious scam.
Although, some well established companies shouldn't be affected by this ban, it should be more selective.
In fact, I give my 100% support. I have seen a lot of people making use of Google to visit a particular website, and the first thing that comes up are ad related websites when you make a search on Google with some of them being phishing websites.
So many users have ended up being a victim as a result of this and if Google has decided to make a stop to this, I am totally in agreement. Apparently, they are more concerned about the users than the revenue they are getting and they have their integrity to keep as an ad space.