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Google, Twitter and Facebook ban crypto ads

Google, Twitter and Facebook ban crypto ads

March 27, 2018 6:05 am,

The first site anyone goes to on the internet is Google. It is not just for researching for assignments or some projects or news, even when we are bored, we just Google. It has become a verb in our daily conversational language. We use it as ‘I had Google(d) it’ ‘Wait! I am Googl(ing) it’. Needless to say, It is the base for any advertisement. New companies or even old ones set up their adverts on Google to promote it. Now, in 2017, we saw an umpteen increase in cryptocurrency in around 300%. These blockchain companies use Google as a ground for advertising about their Initial Coin Offerings (ICO), wallets etc.

It has taken a decision to ban any cryptocurrency related advertisements on its site. This means that companies that even have a legitimate cryptocurrency offering will not be allowed to serve ads through any of Google’s as products. It is not alone on this, Twitter and Facebook has joined hands on this parameter as well. They are all on a clampdown on the industry over the risk of giving publicity to potential fraud or huge investor losses. This will be effective from June 2018. It is time for the Crypto companies to hold their horses and look for a new barn.

Scott Spencer, the sustainable ad’s director of Google gave a statement in which he underline that the company is willing to update its financial as policies ad policies and that with all this it is expected all the virtual currency content to be banned. In the words of Scott, “We don’t have a crystal ball to know where the future is going to go with the 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.”

Now, the biggest question that lays is how will the blockchain companies advertise themselves? Hypocrites can say that Google and its peers have already led this era to a great boom and it’s high time to be independent.

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