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Google to Stop Advertising Crypto-Content Starting Next June

There is no smoke without fire. Earlier this week, we reported that Google was informally removing ICO and crypto-related as from its advertising platform. And yesterday, we also reported that due to the new considerations of the SEC about ICO’s and exchanges, the search giant was under pressure from the FBI to ban crypto related ads.
Well, today the bubble burst; Google announced a change in its ToS (Terms of Service) that effectively bans all cryptocurrency related advertising on its platforms. This move mimics the stance and the actions of Facebook, that also prohibited these kinds of ads on their platform last January.
The blog post states that ads for the following will no longer be allowed to serve:

  • Binary options and synonymous products
  • Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)

Ads for aggregators and affiliates for the following will no longer be allowed to serve:

  • Contracts for Difference
  • Rolling spot forex
  • Financial spread betting
  • Binary options and synonymous products
  • Cryptocurrencies and related content

This is likely the product of the latest developments, and Google wanting to protect itself from possible lawsuits in the future. In this sense, Scott Spencer, director of ads declared:

 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”

Confirming that, even unaware about the future of crypto assets, they are choosing to protect themselves and its users. This will be the year of crypto regulations, and we will see more resolutions like this one involving more advertising companies in the near future, until a clear regulatory framework is approved and applied effectively in the USA.

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