It is for your own safety, especially if you do not know what to look out for when it comes to purchasing bitcoin or any other cryptocurrency. Google will begin banning “any advertising about cryptocurrency-related content, including initial coin offerings (ICOs), wallets, and trading advice,” on its AdWords platform starting this June.
The change will affect Google's entire suite of advertising offerings, which means you won't see ads in the company's own service or on other sites that serve up Google ads after it goes into effect.
The move follows Facebook's decision to block cryptocurrency ads, which was announced at the end of January; the social media giant said that these financial products and services are “frequently associated with misleading or deceptive promotional practices,” and cited examples of ads that invited users to start binary options trading, buying into ICOs, and purchasing cryptocurrency.
The only question that can be asked now is, why wait until June? It's possible that the search giant has already sold ad inventory to customers wanting to promote their cryptocurrency and related products up until then.
The news does not have a direct impact on bitcoin, which is the world's first decentralised cryptocurrency. It is one of the few cryptocurrencies that has no marketing department, no centralized team and CEO, and is not registered as a company looking to raise funds.
What kind of impact will Google’s ban on cryptocurrency and ICO advertising have on the industry? Share your thoughts in the comments below!