Google to Ban All Bitcoin, Cryptocurrencies and ICO Ads From June 2018

Google has decided to ban the advertising of all the Initial Coin Offerings (ICO), Bitcoin and other cryptocurrencies on its search engine. Google’s New Restricted Financial Products Policy will be effective from June 2018. Google took this step after Facebook had officially banned the advertisements related to cryptocurrencies.

New Restricted Financial Products Policy

In the official policy, Google has put Cryptocurrencies and related content in the restricted financial products category. The main idea is to ban ads which can potentially cheat consumers. These steps are taken to protect the reliability of the advertising platform. Cryptocurrencies fall under the category as the ICO offerings are misused and scams are getting unearthed. This is a cautionary step by Google for not to harm the investors.

The company’s clients, like the firms involved in direct advertising, PR agencies and marketing firms, have given their views relating to ads. Some customers may even find their accounts suspended or advertisements rejected soon.

Steps taken by Google in Past

Google had announced in 2016, that they had removed 1.7 billion ads, which violated their Adsense policies and in 2017, they had removed more than 3.2 billion ads. Google recently has removed more ads and publishers using new technology as well as is fighting deceptive and controversial content in their ad network.

The trend showing that Google’s daily AdWords performance has fallen thousands times over the period; fall in the cryptocurrencies ads performance may be due to the safety reasons and the steps taken by the government to protect the investors. It will not hamper sound cryptocurrencies, only fake or new one could be affected.

On the other hand, the advertising in Google’s Adsense is getting less profitable as expected, mainly due to the emergence of ad blockers that allow the people to enjoy content without giving something back.

Meanwhile, Google is fighting four class-action lawsuits filed by website publishers and advertisers who use its AdX services. If they win the cases, the damages could run into tens or hundreds of millions of pounds. Therefore the company is cautious on crypto ads.

There seems to be no possibility of a conflict between Google’s Adsense and other crypto ad platforms placed on a single website.

Google intends to join Cryptocurrency world?

Google Ventures had invested $25 million into Currencycloud, which is a cross-border payments provider based in the UK. Google for the first time has invested in a Fintech company. This also means the possibility of joining the cryptocurrency world soon.

The company is taking these steps towards safer ads and ads networks in order to be effective for people, advertisers, and publishers. But such a move by the world’s topmost advertising platform poses threat on marketability of good ICOs and Altcoins.

Recently, the cryptocurrency market got some acceleration and this news will definitely drag the market back from the recovery path. Bitcoin price has already got impacted by approx. 5% with the move and the real impact on the cryptocurrency would be seen in the times to come.