Published: Sat, September 29, 2018
Markets | By Otis Pena

Google to Allow Ads for 'Regulated' Crypto Exchanges Next Month

Google to Allow Ads for 'Regulated' Crypto Exchanges Next Month

On 14 March 2018, Google announced that it had updated its financial services related ads policy to disallow all crypto-related advertising; this included ads related to initial coin offerings (ICOs), crypto wallets, crypto trading advice, and even crypto programming courses.

CNBC reported this morning that Google (NASDAQ:GOOGL) is lifting its ban on some cryptocurrency-related advertising and plans to allow regulated cryptocurrency exchanges to buy Google ad space in the USA and Japan.

Facebook also put a ban on cryptocurrencies in January.

Cryptocurrency exchange platforms which want to advertise themselves on Google must obtain a certification issued by the company, to be authorized to conduct marketing campaigns, as Google reported in a statement released on September 25th.

The update further says that the policy will "apply globally" to every account that promotes these financial products. The company sees no danger in cryptocurrency advertising on both Bing and LinkedIn, allowing all cryptocurrency ads except those related to the sale of virtual currencies. Back in June, during an exclusive interview with Cointelegraph, Wikipedia's Jimmy Wales commented on the attempts to regulate the blockchain and crypto industries, saying: "You can't ban math".

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It is important to note that the policy is not implemented instantly, but will become effective in October, which should give many cryptocurrency companies a chance to strategize an effective marketing strategy.

Google is reversing its ban on cryptocurrency adverts, which went into effect earlier this year.

Anyway, overall, this step that Google just took only shows that good projects will be supported and they will provide value. Along with these the cryptocurrency products and services need to be certified by Google through applications if they are to be advertised on the search engine's platform.

"I understand that Facebook and Google are under a lot of pressure to regulate what their users are reading, but they are still advertising gambling websites and other unethical practices", he said. "The company booked more than $54 billion in ad revenue in the first half of 2018", said the report.

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