Google banned cryptocurrencies ads. Through an update of its advertising policies related to financial services, all ads related to cryptocurrencies will be banned in Google. Given that both public bodies and regulators are increasingly aware of the success and shortcomings of cryptocurrencies. So, the search engine company has decided to adopt a reluctant position. That will be active at least until the agencies better regulate the cryptocurrencies.
Ads on cryptocurrencies will be banned from June
One thing is clear, the cryptocurrencies are here to stay, and they seem like a big deal. But they also lack regulation by the states; this leads to potential scams. And Google does not want to have anything to do with that.
Google will prohibit ads
Google’s sustainable advertising director, Scott Spencer told CNBC; “We do not have a crystal ball to know where the future of crypto-currencies will go, but we have seen enough harm to the consumer or potential for harm to the consumer, which is an area that we want to address with extreme caution. ” The new approach will apply to initial offers of currencies (ICO), portfolios and business advice alike, starting in June of this year.
That seems to be a blow to the liver for mining, preventing new users from entering this type of initiative. Although there are ads for crypto-currencies that seem dubious, this also affects other much more severe actions that will not be able to have their advertising on Google, so everyone loses.