The renowned Google announced, through its support page, that it will partially eliminate the cryptocurrency ads ban it maintained since earlier this year on Google Ads. In this way, starting with October 2018, crypto advertisements will be allowed only for regulated cryptocurrency exchange platforms located in the United States and Japan. The restriction is still maintained for Initial Coins Offerings (ICOs), crypto wallets, and crypto investments consultants.
Cryptocurrency exchange platforms which want to advertise themselves on Google must obtain a certification issued by the company, to be authorized to conduct marketing campaigns, as Google reported in a statement released on September 25th.
Google Ads will allow cryptocurrency advertisements in the US and Japan starting with October 2018
Google Ads policy on financial products and services will be updated in October 2018 to enable regulated crypto exchanges to advertise their services in the United States and Japan. Advertisers must obtain a Google certification in the specific country in which they want to publish their cryptocurrency advertisements.
Last March, Google announced that it would begin restricting ads related to crypto coins and ICOs due to a change within its Google Ads’ financial services policy. The measure published 6 months ago went into effect in June this year. At that time, Scott Spencer, Director of Product Management and Sustainable Ads at Google, said they had seen “enough damage to the consumer or possible damage” through fraudulent advertising, so they made the decision to ban cryptocurrency advertisements.
The Google Ads’ decision to ban cryptocurrency advertisements affected the cryptos market
After Google’s decision was announced at the end of March 2018, the cryptocurrencies market suffered a fall due to the possibility of new regulatory measures. This brought the Bitcoin (BTC) price from $9,100 per unit to about $8,300, a drop of 8% in only 24 hours.
Now, Google Ads decided to remove the ban on cryptocurrency advertisements, similarly to Facebook which on June 26th announced that it considers revoking the decision to prohibit ads related to crypto coins. Both companies kept the interdiction on ICOs.