In the latest digital currency news, we have Google in the spotlight as one of the main vehicles for search engine data which was known in the crypto world for banning all crypto-related content from its search engine advertisements.
However, the $828 billion search engine behemoth has officially decided to remove the ban on crypto-related ads, allowing regulated companies to use its platform to advertise their products.
The decision to ban the crypto-related ads came in March this year after an executive called Scott Spencer stated that the cryptocurrency investments have potential to cause harm in the financial markets. As he then stated:
“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.”
However, the reverse of this ban proves that Google is willing to work with legitimate projects and companies in the cryptocurrency sector. Even though the main aim of this ban was to keep users secure from all the ponzi schemes and crypto-related scams, Google also banned the ads by well-established companies in the sector such as Coinbase and Binance.
The good news, however, is that starting October 1st only verified companies in the crypto sector of US and Japan will be able to purchase crypto-related ads on Google. However, the procedure won’t be as per usual – the companies will be permitted to file applications with Google in order to publish ads in other countries. This ‘regulated’ approach is expected to evolve into an international reverse ban on crypto ads.
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