Bad news! There is a probability that Google will ban decisively the ads about cryptocurrency and ICOs. But why Google will follow the same steps as Facebook did?
The chairman of Canada’s Binary Option Task Force, Jason Roy has announced that the team has already contacted Google representatives to establish a procedure that will be in opposition to their concerns related to the fact that “these types of ads are leading people to becoming victims.“. He argued his opinion as being certain that Google has to implement the same rules as Facebook.
We want to remember you that on 30 January 2018 the Facebook platform banned all cryptocurrency- related ads, including those involving bitcoin, claiming that such ads are “frequently associated with misleading or deceptive promotional practices”.
The Facebook’s Product Management Director- Rob Leather argued that “We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception. That said, there are many companies who are advertising binary options, ICOs, and cryptocurrencies that are not currently operating in good faith.”
Jason Roy, also being the Investigator Senior at the Manitoba Securities Commission mentioned for The Times of Israel magazine that “we’re very pleased with Facebook’s decision. My hope is that Google will enact a similar policy, where they specifically name products like binary options, ICOs and cryptocurrencies.”
Asked by a representative from The Times of Israel, the Google’s spokeswoman Roni Levin replied that “we already ban and enforce against misleading ads and misrepresentation (across all categories)”.
How do you think Google’s ban on ads regulation will manifest on the global crypto market?