Google Move To Change Ban On Bitcoin Advertising
Through 2018 we have seen a number of tech giants move to ban cryptocurrency advertising. In line with global regulation, firms such as Google, Twitter and Facebook have made moves to ban all forms of cryptocurrency advertising, that included the ban of adverts for cryptocurrencies, cryptocurrency services, ICOâs and even cryptocurrency news. Since their initial call for an all out ban, Facebook have since relaxed their rules, allowing some advertisements to now work within their networks, it now seems that Google are set to take similar steps.
Bans have been implemented in a move to protect customers from illicit cryptocurrency activities, including scams and fake ICOs. Instead of actually reaching out for community opinion, Facebook, Google, Twitter and others simply implemented instant bans, causing a bit of an up roar across many social media.
Google now want to join Facebook as the next firm to lift some aspects of their current ban.
As it stands, Facebook now allow all cryptocurrency advertisement, apart from the advertisement of ICOs. In order to advertise, crypto firms need to apply for permission from Facebook, in order to prove their legitimacy. Google are now set to take similar steps, steps that will allow some cryptocurrency advertising to take place, under some restrictions, pending approval from Google themselves.
According to The Paypers:
âAlphabetâs Google would allow certain regulated cryptocurrency exchanges to advertise in the United States and Japan, easing an earlier ban on all cryptocurrency ads. The changes will take place in October 2018, and advertisers will need to be certified with Google for the country where the ads will appear, according to Reuters. In March 2018, the company said it would ban advertisements for cryptocurrencies and initial coin offerings, starting June 2018.â
What does this mean?
Well, for a start, itâs good news. When Google announced their ban, the markets reacted quite badly, Bitcoin dropped around 10% and the community had been left frustrated, feeling somewhat marginalised. Censorship in the form of these bans is keeping cryptocurrency away from the mainstream, which is the opposite of what we all want. With Google now opening up to some forms of cryptocurrency advertising, we can at least take this as confirmation that Google are now starting to explore cryptocurrencies themselves. Itâs something they are opening up to and itâs something that they believe their customers should now be exposed too.
Whilst the advertising will only be opened up in the United States and Japan, we should expect that soon enough, Google will begin to allow limited cryptocurrency advertising across the rest of the world too.