Cryptocurrency market is going through a rough face these days for sure. Every single day, there comes some news which tanks the market indefinitely. Starting with South Korea crypto banning, market hasn't seen a uniform 'green' movement in crypto space. Bitcoin dropped under $8000 currently because of a new crypto FUD.
Google is now banning all cryptocurrencies related Ads starting from June 2018.
Well, Google is the most popular and commonly used search engine for every individual or company alike. A majority of revenue of Google comes from its Advertisement business. Google Adwords are being used by majority of advertisers to post their specific product onto the Google web searches as well as websites. But now, Google has clearly announced to revoke crypto related ads on their platform.
Actually for sometime, various crypto advertisers using Google Adwords were noticing a drastic decline in number of views on their crypto related ads, although Google declined any solid decision making to ban crypto related ads at that time. But yesterday Google officially announced this decision.
Under Google New Financial Product policy, no advertisement for cryptocurrencies and related content including Crypto exchanges, ICO's, Decentralized exchanges, crypto trading activities are approved.
As per this source, Scott Spencer, the Director of Sustainable Ads at Google told in an interview that:
"We don't have a crystal ball to know where the future is going to go with cryptocurrencies, but we've seen enough consumer harm or potential for consumer harm that it's an area that we want to approach with extreme caution.”
Cryptocurrencies ads have already banned by Facebook recently and now Google crypto ads banning will definitely affect the crypto market indefinitely. It might be the reason of latest Bitcoin drop under $8000.
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