Following the Facebook’s January announcement that it would no longer accept crypto advertising, Google steps in with a change to its advertising policy that will essentially ban cryptocurrency-related ads from its services in order to “tackle emerging threats.”
Google’s change in policy was outlined in a recent post, and will come into effect in June. It will hit, besides cryptocurrency, a wide range of financial products and services, with the primary focus on contracts for difference (CFDs), rolling spot forex, and financial spread betting.
The decision by Google will touch many businesses in the crypto industry such as publishers and ICO promoters, and crypto exchanges and wallets.
It must be noted that Google doesn’t use the word “ban” but “restrict.” Therefore, it appears some of those ads might be able to advertise with Google by getting certified.
Google expects some crypto advertisers will try to walk around the ban like some have already tried to bypass the Facebook’s automated moderation systems by using tactics such as deliberately misspelling “bitcoin.” But a Google spokesperson said the company will attempt to anticipate and prevent similar gambits from working on its ads network.
The reasoning behind the move is, of course, security. Plus, Facebook/Google understand negative effect of shady ads on revenues from legitimate ads.
And it’s not just the fraudulent ICOs that’s the problem. Crypto-jacking, where malicious code is hidden on websites or in ads, is growing exponentially. Google said it has taken off 130 million such ads. Google’s latest “bad ads” report said it had removed 3.2 billion ads in 2017 for breaking its policies, and some 320,000 publishers had been removed from its ads network and 90,000 websites and 700,000 mobile apps blacklisted, it was reported today.
The danger for many in the crypto world is with the influence Google has on the broader ecosystem. Many worry such a wide restriction might inadvertently push legitimate crypto companies out of the business.
Sign up for our newsletter
and don't miss out great opportunities to monotize on your bitcoin