In June 2018, Google is set to ban all types of advertisements related to cryptocurrencies.
As per a blog post, Google’s new update on financial products policy stated that financial product restriction list will be changed by the firm, blacklisting ICO related ad content” (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)”. “Such ads will no longer be allowed to serve,” it added.
As per support pages of Adwords, Crypto advertisers who use Google Adwords noticed a drop in the number of views of ads.
Google hasn’t clarified the reasons of banning ads but the new policy shares common thoughts with Facebook and the U.S. regulators. At both state and federal level U.S. regulators are shutting down ICOs that appear corrupt or fraudulent.
Earlier in January this year, another advertisement giant Facebook had also banned advertisements related to Cryptocurrency.
Google’s ad products will be affected a lot by this move as companies won’t be able to serve ads related to crypto world. Earlier U.S. Securities and Exchange Commission also warned about tracing ICOs. This is the unpredictable crypto-world.