In March, the whole crypto market was startled by Google’s decision to ban crypto ads. The search giant justified this move as a way to prevent crypto fraud. However, after half a year of the crypto advertising prohibition, Google decided to lift the ban and again welcome crypto ads. From October, all regulated companies will be able to use the Google AdWords platform to advertise their crypto-related products.
Earlier this summer, Facebook announced a similar move, but the ban stayed for ads promoting ICOs.
Crypto Ads Ban Harming Legit Players
Many main players in this market have criticized the Google crypto ads ban. Although they presented themselves as blockchain promoters, Google and Facebook harmed every company in this market. By placing this ban, Google penalized the whole crypto and blockchain industry, not just ICOs and crypto scammers.
In addition, the blanket ban influenced well-known companies like Binance and Coinbase. That gave a boost to people who anathematize cryptocurrencies. That is why all big players are welcoming the ban reversal. They see it as a good example that will bring back confidence in the cryptocurrency market.
Global Reverse Ban on Crypto Ads
Currently, starting from October, only verified crypto-related companies in the US and Japan will be able to publish crypto ads on Google. However, interested businesses will need to send an application to Google if they want to serve ads to other international markets. At this moment, there is no information about when the full international ban will be lifted.
The Google move to allow crypto ads will definitely give a boost to projects related to cryptocurrency and blockchains. In addition, it will reassure the audience that those businesses are legit, and lower the risk of investing in ICO scams.
Nevertheless, besides good intentions that Google has when it comes to this initiative, there is also the financial side of the story. Almost 86 percent of Google’s total revenue comes from advertising. In the first half of 2018 alone, they made $54 billion in ad revenue.
Thank you, Google, but in the end, you will be the one saying, “Thank you, come again.”