With an update to its financial services-related ad policies Google has announced that Cryptocurrency related ads on its services will be banned. It seems as if the company is taking a stand against the deeply unregulated cryptocurrency field. With the shortcomings of many different cryptocurrencies as well as multiple crypto scams Google wants to keep their users safe.
Director of sustainable ads at Google Scott Spencer, told CNBC, “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.” With that the new approach or banning / non-approval of ads will be set against initial coin offerings (ICOs), wallets, trading advice, and more, starting this year.
This decision by Google is quite debatable. Google does make a considerable amount of revenue from their advertising product, and wants to protect its users against crypto scams and other players that could reduce confidence in their advertising program. But at the same time if you look at what ads Google is currently displaying many of them are spammy, scams, and more, just not in the crypto space.
What do you guys think?