Google has reversed its complete ban on cryptocurrency-related advertisements, allowing reputable digital asset exchanges to buy ads in the U.S. and Japan. These new guidelines go into effect in October.
Reaching out to Potential New Investors
Google outright banned cryptocurrency-related advertisements on their platforms back in March. The ban included ICOs, wallet services, and trading advice. While those types of ads are still banned, Google is following in the steps of Facebook, who started allowing some cryptocurrency advertisements back in June, by reversing the ban and allowing for select advertisements
Google will now allow for regulated exchanges in Japan and the United States to buy ad space on Google platforms. While this is surprisingly nice news for U.S.-based crypto fans, this is run-of-the-mill for the people of Japan who have seen record adoption in recent months.
Where Is the Crypto Market Going?
The late-2017 bull run brought a massive amount of wealth into the space but spawned an almost equal number of high-profile scams and sometimes even outright fraud.
Google has acknowledged that the public seems to want cryptocurrencies but recognizes the potential for consumer harm. Scott Spencer talked to CNBC at the time of the original ban, saying.
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 the price dropping, lots of these scammers have moved on to more profitable pastures. However, the lessons learned during the last bull run will be very valuable during the next one. The crypto space will be better equipped to protect investors, make it easier for users, and help keep fraud and scams in the space to a minimum.
What do you think about the reversal of the ban? Will this affect the cryptocurrency market? Let us know in the comments below!
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