Starting in October, a new policy will end the ban on cryptocurrency-related advertising on Google as the platform decides to allow regulated crypto exchanges to buy ads in the United States and Japan.
The new policy by Google doesn’t exactly lift the ban but allows regulate crypto exchanges to buy ads in the United States and Japan. While advertisements related to initial coin offerings (ICOs), wallets, and trading advice are still not allowed. The updated policy applies to advertisers all over the world, though the interested parties will need to apply for certification to serve ads in each country individually
In March, Google announced a set of restrictions that rolled out in June and debarred any advertisement related to cryptocurrency on their platform. Though cryptocurrency opens up good investment opportunity it has also led to spawned fraud, high-profile scams and other regulatory issues. Google and other platforms such as Facebook, Twitter, and Snap also banned the crypto-related advertising to protect their consumers.
At the time of the Original Ban Google’s Scott Spencer told CNBC:
“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.”
Google’s easing up follows Facebook’s decision that allowed preapproved cryptocurrency advertisers in June.
Alphabet, the parent company of Google earns almost 86 percent of its total revenue from advertising. In the first half of 2018, it garnered more than $54 billion in ad revenue.
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