In breaking news, Google has announced that it plans to allow some platforms to advertise on its platform, breaking its blanket ban on cryptocurrency advertising introduced in June 2018.
The latest news released on Tuesday 25 September suggests that the new policy will become effective in October which will allow registered crypto companies to advertise on its Google Adwords platform.
The initial June ban was introduced according to Google to “protect” customers, including advertising for ICO, crypto wallets, exchanges, and cryptocurrency trading advice. As of today, all of these ads still remain under the ban. At the time of the ban, a Google spokesman commented that:
“We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution.”
The most recent announcement from Google has suggested that certain ads by registered cryptocurrency exchanges will be allowed from October providing that they specifically target US and Japanese audiences. The statement from Google explains:
“Advertisers will need to be certified with Google for the specific country in which their ads will serve. Advertisers will be able to apply for certification once the policy launches in October.”
The newly updated policy is not restricted to any particular country, providing that the ads run in the US and Japan and advertisers apply for certification to run ads in those countries. It is uncertain whether Google’s partial lifting of the crypto advertising ban was influenced by Facebook who also reversed a ban on advertising for pre-approved crypto exchanges and companies after banning ads earlier this year.
Today’s announcement by Google clarified the new guidelines for advertising:
“The Google Ads policy on Financial products and services will be updated in October 2018 to allow regulated cryptocurrency exchanges to advertise in the United States and Japan. Advertisers will need to be certified with Google for the specific country in which their ads will serve. Advertisers will be able to apply for certification once the policy launches in October.”
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