Saturday, July 20, 2019

Crypto Won’t Be Advertised: Google Informally Removing ICO Ads

Anonymous reports from different ICO companies suggest that Google is trying to step down from the ad train with them, according to a report on FinanceMagnates. This adds up to the crackdown that Facebook made to all crypto-related ads earlier in January. So it looks like mass media and advertisers are keen on not letting people know about ICO’s or cryptos at all.

The Facts

An anonymous company reported that their ads weren’t having the same commitment as before, with the number of clicks falling almost 90% on the course of days. Other companies reported having their ads “limited” in approval, meaning that Google can remove them anytime. And other advertisers even stated that their campaigns and accounts in Adwords were terminated. And it seems that even Youtube is picking on crypto related vloggers, making it more difficult to get their videos approved for viewing on their platform.

Google: To Publish Or Not

Google is a multi-billion giant company, making money left and right from all sources possible, including advertising. They won’t abandon a market or market segment without a valid reason. It’s not a random fact that Google starts being picky with cryptos and ICOs a week later that the SEC started an onslaught against ICOs, subpoenaing most, and requiring crypto exchanges to be registered as normal exchanges. Google is trying to protect itself from upcoming possible lawsuits for “promoting” unlawful or illegal service providers. Even if they haven’t changed their Terms Of Service, their consideration of ICOs have.

The Bottom Line

The answer to rare and strange events in an incumbent market is always regularization. A clear regulatory framework will help clarify if ICO advertising is really harmful to consumers or illegal for services providers. Google actions based on doubts and uncertainty hurts everyone: consumers and publishers alike. That’s why a diversified advertising market is necessary.

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