Google Announces an End to the Cryptocurrency Ad BanSep 26, 2018, 7:00AM
Google's new policy will apply to advertisers all over the world, but the associated ads will only be run in the U.S. and Japanese markets.
Google has announced an end to its wide-ranging ban on cryptocurrency-related advertising in the United States and Japan. The search engine giant will allow select cryptocurrency exchanges to purchase advertising on the platform, and this policy is set to go into effect by October of this year. Google's move is part of an industry-wide softening of advertising restrictions in the sector that includes major firms like Facebook deciding to lift key restrictions back in June.
Google's new policy will apply to advertisers all over the world, but the associated ads will only be run in the U.S. and Japanese markets. Advertisers will be required to apply for certifications to run ads in each specific country, and this opportunity will only be available to regulated cryptocurrency exchanges.
Google decided to ban cryptocurrency-related advertisements in March in order to protect consumers from risks such as fraud, especially relating to Initial Coin Offerings, crypto wallets, and trading advice, all of which are still banned under the new rules. The wide raging restrictions were strict, but never expressly intended to be permanent.
According to Scott Spencer, the Director of Product Management, and Sustainable Ads, at the time of the original ban,
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.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.