Google to ban crypto-ads starting June 2018
March 15, 2018 5:36 am,
Our huge search engine, Google, in a blog published yesterday (13th March 2018) indicated that it will change its existing financial product restriction list in June this year, blacklisting ads content including but not limited to initial coin offerings (ICO), cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice.
The big news led some in the crypto industry believe Google’s latest actions could be beneficiary to cryptocurrencies.
The managing partner and CEO of $APEX Token Fund, Chris Keshian “We see Google’s actions as progressive – as long as they continue to keep an open mind and don’t tar all cryptocurrencies with the same brush. Crackdowns on cryptocurrencies are the best way to weed out irresponsible and fraudulent ICOs and place greater focus on cases against unregistered persons acting as agents, brokers, and investment professionals in the cryptocurrency space. This is a key step in cryptocurrencies becoming a mature and stable asset class.
Google has announced its new policy along with its latest “bad ads” report, where it has revealed that it took down over 3.2 billion ads that violated its policies in 2017. It didn’t explain its reasoning behind the decision, and only said that it “updated several policies to address ads in unregulated or speculative financial products.” In addition to cryptocurrency, those products include binary options, foreign exchange markets, and contracts for difference (or CFDs).
In another blog published, Google mentioned it took down 3.2 billion ads that violated its advertising policies in 2017, nearly double the number of ads it removed in 2016.
We also heard Scott Spencer, the Director of Sustainable Ads, said: “Improving the ads experience across the web, whether that’s removing harmful ads or intrusive ads, will continue to be a top priority for us.”
This big decision will come into action this year in June and follows the similar step took by Facebook in January. As a result, two biggest advertising platform will be out of reach for the virtual currency industry.
During September 2017, the US securities regulator issued its first fraud charges in connection with the practice of initial coin offerings – a controversial method of raising capital by creating coins or tokens using the blockchain technology which underpins Bitcoin.
So here’s Google taking precautions.