Google has announced that it will be allowing regulated cryptocurrency exchanges to advertise on its platform in the United States and Japan. This policy will come in effect from October 2018.
Google is still planning to reject ads for ICOs, crypto wallets, and trading advice, which are seen mostly as loosely regulated fundraising efforts. Back in March, Google had banned all forms of cryptocurrency and related content to advertise on its platform amidst the emergence of new technology which made it difficult to differentiate between over-hyped or simply fraudulent ventures and the legitimate ones.
Source: bitcoinplay.net
“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.”, Google’s Scott Spencer told CNBC at the time of the original ban.
The search giant seems to be following the footsteps of Facebook and Twitter, both of whom have similar policies now regarding cryptocurrency advertisements. Earlier this year, Facebook ended its ban on pre-approved cryptocurrency firms while still disallowing ICOs to advertise on its platforms.
Google’s revenue benefits heavily from advertisements, nearly 86% of it. And this move might just be following procedures to ensure that it doesn’t lose its valuable advertisers.
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