Google to Reverse Crypto Ad Ban

Google informed the public that it plans to change its mind regarding the decision to ban cryptocurrency-related advertisements on its platform. The new policy will come info effect this October.

26 September 2018 – The Internet giant Google is reportedly planning to update its advertising policy in October. A number of online news reports state that the company might be reviewing its decision regarding cryptocurrency businesses. Google plans to reverse its decision regarding crypto advertisement ban. The company issued a public announcement this Tuesday.

Google Says it Will Allow Crypto Ads from October

Earlier this July, AtoZ Markets reported that Google might be considering to soften its stance regarding its decision on cryptocurrency ad ban. Now, according to Google’s official announcement, the company will allow registered cryptocurrency exchanges to resume their advertising activities on its Google Adwords platform. This will re-open crypto exchanges’ access to the US and Japanese investors. The announcement reads:

 “Advertisers will need to be certified with Google for the specific country in which their ads will serve. Advertisers will be able to apply for certification once the policy launches in October.”

This decision emerges following an announcement in March that all cryptocurrency related businesses are going to be banned from placing advertisements on Google Adwords. This move from the Internet company has been described as “unfair” and “troubling” by industry participants. 

To justify its decision regarding crypto ads, Google noted that it aims to protect its customers from fraudulent offerings. The company mentioned that its ban is applicable to “initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice.”

Facebook and Twitter Crypto Bans

Some other tech companies, such as Facebook and Twitter, made similar decisions earlier this year, thus following the lead of Google. However, since that time, Facebook has reversed its ban for pre-approved cryptocurrency firms. Yet, the company kept the ban on Initial Coin Offerings (ICOs) advertisement in place. The revised advertising “prohibited products and services policy” of Facebook now reads:

“Starting June 26, we’ll […] allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings.”

The updated policy urges advertisers wanting to run ads for cryptocurrency products and services to submit an application to enable Facebook to evaluate their eligibility. Now, the applicants will need to include “any licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public backgrounds on their business.”

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