The original ban was announced this year in March while imposing restrictions on posting or purchasing any ads relating to cryptocurrencies. This step by Google was to protect the consumers from ICO scams, wallets and trading. The cryptocurrency ride has been very generous to some and cruel others due to scams, it’s not completely sure as to why the original ban was in action.
Google confirms on Tuesday to allow certain cryptocurrency exchange to advertise. And the users will need to have Google certification for the specific country where the ads will appear. The users will be able to apply for the certification once the policy launches in October. Google also says this in the Ad support policy.
“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 its original ban.
Facebook, back in January put its first large-scale cryptocurrency ad and now allows certain cryptocurrency ads posting. Like Google, Facebook will not allow ads of ICO’s and then reverse the ban. The companies need to fill out a form to run ads.
The companies need to apply for certifications to run ads in the applicable countries. Meanwhile, Alphabet, a parent company of Google books more than$54 million in revenue in the first half of 2018. It also generates 86% of the total revenue through ads.
Google was right in thinking to protect consumers from crypto scams, however, the FOMO of cryptocurrencies might have brought Google back in, to earn those sweet dollars on the cryptocurrency ride.
You can also have a read:
- Google Bans Cryptocurrency Mining Apps from Play Store
- Yet Another Ban Imposed by Google on Crypto Mining Extensions from Chrome Store
- It’s Confirmed- Twitter Will Ban Cryptocurrency Ads
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