Just recently Facebook announced that they would be banning all ICO & Cryptocurrency advertisements on their network, well now it seems Google has followed suite.
In a blog post released yesterday Google laid out their new rules which will come into place in June 2018:
In June 2018, Google will update the Financial services policy to restrict the advertisement of Contracts for Difference, rolling spot forex, and financial spread betting. In addition, ads for the following will no longer be allowed to serve:
- Binary options and synonymous products.
- Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)
As we said in an earlier article relating to Facebook’s decision to ban all adverts of the same nature, this isn’t necessarily bad news. In fact it seems like a sensible decision. You have undoubtedly seen both these advertising networks flooded with ICO adverts, just about all of which you’ve probably never heard of outside the advertising space. Think of the small handful of successful ICO’s, or should I say ‘expected to be successful ICO’s’ – now did you ever see an advert for them?
Of course you didn’t. All the more reputable projects do not need to advertise, the media and community do that for them. It wasn’t so long ago Google’s youtube space was totally overtaken by the criminal scammer Craig Grant trying to encourage people to get involved with the infamous crypto ponzi scam, Bitconnect. People don’t want their content associated with criminals like this and unfortunately the only way to deal with it is to do a straight out ban, Google or Facebook do not have the time or incentive to weed out the scams from the genuine projects therefore an outright ban is the logical choice.
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