Google shocked the crypto-sphere back in March when the ban on cryptocurrency advertising was announced. The ban went into effect in June and was supposed to protect the consumers. It prohibited ads of ICOs, wallets and any type of trading advice.
Needless to say – many people were quite unhappy with Google’s move. That didn’t stop other social media giants from following in Google’s footsteps. Facebook, Snapchat and Twitter all banned crypto-ads around the same time.
The decision to ban crypto-related advertising had its merits. The bull run of 2017 brought a lot of excitement, but many saw it as an opportunity to scam fellow crypto-fans.
“we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution,” – Scott Spencer of Google explained in an interview with CNBC at the time.
So how does it work now?
The updated policy will allow advertisers from around the globe run ads in the United States and Japan, but only there. In addition – they will have to become certified in each country separately. This is similar to the process Facebook introduced in June.
We hope that as more and more countries introduce proper regulations for both – cryptocurrency and the initial coin offerings (ICO), those types of bans will become a thing of the past.
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