Google has decided to ban crypto related advertising
Google has announced that in staring June 2018, they will update their Financial Services Policy. At that time Google will ban the following: Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice).
This ban will affect ads that are in Google's search results, YouTube pay per click etc.
Google's most recent action against "cryptocurrencies and related content" follows Facebook's crypto policy which was announced in January of this year. These two global giants have taken a clear stance against promoting crypto. Google and Facebook have both stated that there is not enough consumer protection.
Google's Director of Sustainable Ads Scott Spencer stated that they have updated several policies to address unregulated or speculative financial products such as cryptocurrency. This stance is very similar to the one Facebook also holds.
Why now?
These changes have been implemented due to backlash over crypto products, particularly ICO's. ICO's have become problematic as many have been labelled Ponzi schemes. Many investors and traders have bought into initial coin offerings only to have the supposed crypocurrency vanish over night. Beyond the ones that have essentially stolen millions of dollars much more has been lost due to failed ICO's.
Furthermore, the Securities and Exchange commission, believe that many ICO's are securities. The SEC's belief would force many ICO's to register and comply with securities regulations.
Where do we go from here?
For the months leading up to Google's ban, there are still campaigns that will run. After that point, Twitter (as of now) will still be an available ad space.
That does not leave many options for those who wish to advertise. We here at moonflowcrypto.com welcome all forms of crypto related advertising.We thoroughly verify each potential advertisement before they get approved. We are certain that we are not the sole website that will continue to offer ad space to the cryptocurrency market.
It should be noted that although Google and Facebook have taken a blanket all approach, it does appear to be a gesture of good will to their consumers. The current marketplace is riddled with fake twitter accounts, hacking scandals and fraud. Clearly something has to be done with regards to the current climate. They only way to ensure investor confidence is by making the market safer. But in the end, were Google and Facebook's actions the right call? That is up for debate.
Tell us what you think in the comment section below.
Posted from my blog with SteemPress : https://moonflowcrypto.com/index.php/2018/03/15/google-bans-crypto-ads/