According to a statement released by Google, by June of this year, it will be upgrading its financial policy. A blog post was published by Google which clearly indicated that by June of this year, they will be banning ICO, cryptocurrencies advertisements as well as all its advertisements.
According to the blog post, these advertisements will not be served on any of the platforms which are affiliated with Google.
Facebook setting precedent:
This is not the 1st time that advertising giant has banned the cryptocurrency advertisements. Recently, Facebook also announced that it will not allow cryptocurrency advertisements on its platform. This was just a month back. According to Facebook, ICO as well as cryptocurrency advertisements deceive the users.
On the other hand, Google did not elaborate as to why it was taking this step. One thing which is for sure is that scrutiny over cryptocurrencies is increasing significantly. This is the reason why the Internet giants are also looking into their policies when it comes to cryptocurrencies.
Also, US regulators are currently cracking down on cryptocurrencies. This might be one of the main reasons why Google, as well as Facebook, want to stay away from the heat. There are plenty of deceiving advertisements when it comes to cryptocurrencies. This is one of the main reasons why the platform want to ensure that their reputation is intact and they do not get associated with some of the murkier ICO’s.
According to SEC, it is necessary to regulate the ICO’s. Only the companies which are registered with SEC can go ahead and launch the ICO’s. However, these rules and regulations are not in full force. This is the reason why the ICOs are being launched without any due diligence.
With that being said, it remains to be seen whether Google changes its policies from June or not. For now, however, it seems like gaining exposure for most of the cryptocurrencies will be a difficult task in the future. This is the reason why the cryptocurrency space will need to be innovative when it comes to gaining exposure with the help of proper advertisement.
Also, it is expected that some of the other platforms in turn will also start curbing the advertisements which are related to cryptocurrencies. This will not be good news for the industry. It remains to be seen in the future, how these restrictions evolve.