Following in the footsteps of both Facebook and Twitter, soon Google will begin banning cryptocurrency adverts on its platforms. Various coin exchanges, ICOs and other ventures will lose access to Google’s AdSense platform starting in June.
In January, Facebook announced that it would be cracking down on cryptocurrency related advertisements on its platform after a flurry of scams began doing the rounds. Earlier this week, Twitter made a similar move and now starting in June, Google will be doing the same thing. Google confirmed its plans in its latest ‘bad ads’ report, where it revealed that over the course of 2017, it took down 3.2 billion advertisements that violated its policies.
Google didn’t offer a specific reason for its ban on cryptocurrency advertising, but I would assume that its reasons are similar to Facebook and Twitter. Since Bitcoin boomed in December, there have been plenty of schemes running, encouraging people with little knowledge of crypto to invest their savings and retirement funds in order to strike gold.
Aside from scams, governments are also beginning to step in with plans to regulate cryptocurrency over fears that it is being used to fund criminal activity.
Discuss on our Facebook page, HERE.
KitGuru Says: There will always be a market for cryptocurrency, but it looks like this advertising crackdown will slow down its growth in the mainstream. Ultimately, I see this as a good thing, as the Bitcoin boom in December saw a surge of interest from the general public and plenty got taken advantage of.