Is Google Having A Rethinking On Crypto Currency Ad Bans?
As the digital currency market is undergoing changes, there is every kind of report suggesting that Google has done a U-turn on the banning of ads associated with virtual assets. However, the company clearly indicated that there is no change in policy towards banning of ads relating to cryptos in its site. This is despite the company’s keen interest towards the blockchain technology. In March, the search engine giant declared about banning of ads to combat malicious actors as regulators have tightened their screws.
Spate of Reports
The clarifications from Google came after a spate of reports in the blogging space of digital currency indicating that AdWorld has reversed its decision on banning of ads. This was mainly due to a Redditor’s screenshot demonstrating ad from Coinbase. As a result, the crypto community has come to the conclusion that the search engine giant has changed its policy. The other alternative was that Google could have relaxed its policy towards some specific companies such as Coinbase, 9to5google.com reported.
However, the company came out to say that there is no special treatment to Coinbase and clarified that an ad from the cryptocurrency exchange has slipped through. At the same time, the company has not only removed it but also confirmed in Twitter to a public response. Google was not the only company that resorted to banning ads in respect of digital currencies. Other social media firms such as Twitter and Facebook also resorted to a similar move early this year.
There are other possible reasons that have played a part in rushing to a conclusion that the search engine giant has changed its policy. There was every reason to believe that removing ads from any big ad platform could hurt prices of digital coins irrespective of the size or ranking. The company might have thought it was the right move to remove a number of bad actors from the system to protect investors’ interests.
Similarly, there was any number of reports suggesting that bitcoin has come back on Google ads. Significantly, the price of the virtual asset has increased tremendously to cross $8,000 mark compared to a price of less than $6,200 on July 13. However, the cryptocurrency price dropped below $8,000 level probably after reports emerged that there is no change in ad policy towards digital currencies.
Sticking To Policy
The ground realities have changed in the virtual assets sector in the last few months. That is primarily because of a number of countries engaged in drafting new regulations for the emerging sector. They have also been monitoring the cryptocurrency market effectively to avoid any malpractices impacting traders or investors. However, Google is sticking to its policy announced earlier in the year.
Interestingly, Facebook has brought back some ads relating to digital currencies. That move has also driven people to think that the search engine giant has reversed its policy. While announcing the ban, Google indicated that it had seen the harms caused to the consumer by cryptocurrencies. Therefore, the company wanted to adopt an extremely cautious approach towards it.