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Google will lift controversial crypto advertising bans in October, but there are catches. According to a well-known company in the US, only certain companies are permitted to advertise crypto and blockchain technology, while ICO ads are still prohibited.
The new decision taken by Google follows similar ones applied by Facebook to reduce the ban they apply to cryptocurrency ads on their famous social networks.
The new Google crypto ad regulation will take effect in October, but only throughout the United States and Japan. As for other countries, Google may revoke the ban gradually, but nothing reveals it.
In addition, Google announced that advertisements regarding ICOs, crypto consulting firms, trading advice and cryptocurrency wallets are still prohibited on the platform. Facebook, Twitter and Snapchat made the same decision when they reduced their crypto advertising ban to not allow malicious actors in the crypto market to advertise themselves.
Google will lift the crypto advertising ban in October, throughout the US and Japan, but only for the regulated crypto currency exchange platform.
Google's policy regarding the ban on crypto advertising will take effect in October, as stated above. However, only the cryptocurrency exchange platform is regulated and companies related to crypto and blockchain technologies can advertise their services using Google.
"We don't have a crystal ball to know where the future will go with cryptocurrency, but we have seen enough consumer danger or potential consumer danger that it is the area we want to approach very carefully," Scott said. Spencer from Google for CNBC.
In addition to the interest shown by Google in the "future of cryptocurrency," this new policy aims at profit, to be honest, because welcoming back to crypto ads on its platform will skyrocket Google's revenue because many interested parties will be happy to transact, again, with the largest Internet company in world.