Google has finally disclosed that bans the cryptocurrency ads starting with June 2018. If on 12 March 2018, those interested in the crypto world still had doubts about whether Google‘s platform policy will remove digital assets and ICO ads or not, today, 14 March 2018 we can confirm 100% that the concerns will be fulfilled.
Unfortunately, for a lot of advertisers, Google has made a final decision. The platform has announced officially that is going to change its policy, respectively will ban any advertisement related to cryptocurrency and ICO promotion.
Starting June 2018, no more ads about crypto assets will be promoted through Google. The new policy requires differences in “rolling forex and financial spread betting”, which are considered to be risky.
An excerpt from Google’s new policy reads that “Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice).”
Google follows Facebook’s measures
Google has also announced that its partners will no longer be able to use the existing benefits to promote contents about crypto assets. In other words, Google forbids the publication of crypto advertisements on its own website, but also on the third-party websites that operate with its promotional products.
The news will definitely affect many companies that carry out activities based on the crypto industry. The reasons why Google decided such a turnaround are the scams that occur in the virtual environment. Respectively, to eliminate money laundering, theft of personal information and violation of multiple regulations, Google has decided to join the steps already embraced by Facebook.
Talking for CNBC, the Director of sustainable ads at Google, Scott Spencer explained that “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 reported 3,2 billion of “bad ads”
The change made in Google’s policy appears after the “bad ads” report has been published. More than 3,2 billion advertisements were reported to violate advertising policies only in 2017. Google mentioned that 90,000 websites and 700,000 mobile apps that also have violated the publisher regulations were included in the blacklist.
The news will surely disappoint numerous investors, users, but also advertisers. Unfortunately, scams continue to exist in the virtual environment, which leads to such measures. Remember, no more cryptocurrency and ICO advertisements will be allowed on Google platform from June 2018!