Latest: Google Ends Cryptocurrency Advertisement Ban With A Small Twist
Internet giant Google ends their policy about cryptocurrency advertisements as the newly allowed ads set to feature in the platform, starting in October. It’s reported the company plans to allow regulated crypto exchanges to buy ads in the United States and Japan respectively.
After announcing in March that they blocked any cryptocurrency related advertisements, it seems Google reconsidered their stance. The company first tried to protect its users and investors from the scam ICO’s and other related projects but it seems the cryptocurrency advertisements on the platform is back on the agenda, but only for certain conditions.
Back in March, Google’s Scott Spencer told:
We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution.
Cryptocurrencies are certainly one of the shining lights of 2017 but that shining had some bad results of course. After cryptocurrencies gained a lot of traction, many scammers saw this as an opportunity to achieve their bad aims and they did so. Lots of investors have been scammed by them and lots of people lost their money to these visual thieves.
After Google’s move, companies like Facebook, Twitter, Snapchat and Instagram also followed the same route to block the ads. But this has caused a problem as legitimate companies unable to advertise their product because of these policies. Google’s updated policy currently only will be applicable in the United States and Japan but many expect lots of countries will benefit from the change of stance from the leading internet company.
Facebook also, followed Google’s rules a bit earlier as they are allowing crypto related ads on their platform since June, after initially blocking and banning all these ads. In the meantime, Google’s parent company Alphabet making roughly 86 per cent of their annual revenue from advertising. Stats showed that the company booked over $54 million in the first half of 2018 alone and this figure expected to reach even higher levels before the next year.