Google’s updated policy on ads will ban aggregators and affiliates the display of “cryptocurrencies and related content,” no longer allowing the display of initial coin offerings (ICOs) in what could risk other financial products. This policy update that bans all cryptocurrency advertisement will start from June 2018.
This move is similar to the one made by Facebook in January when it banned cryptocurrency ads from its platform, however Google took note quite carefully, noting the way cryptocurrency ads found their way through the ban with methods such as the misspelling of words, however a Google spokesperson told Bloomberg that the search giant will anticipate this moves.
— Bitcoin News (@BTCTN) March 14, 2018
Google’s ongoing war on ads
Google has been constantly updating its ad policy in order to optimize the web experience for users, it has been focusing on the removal of harmful ads and reducing the number of intruding ones, it got to a point where Google has a section for sustainable ads, directed by Scott Spencer.
Spencer said regarding the ad issue “Improving the ads experience across the web, whether that’s removing harmful ads or intrusive ads, will continue to be a top priority for us,”. In the past year, Google brought down more than 3.2 billion ads of different natures. However, the noticeable ad presence in browsers has been reportedly annoying users and in many cases harmed their equipment.
However, Google is aware that many companies and portals make their revenue through ads, which is why the company made a list of parameters that must be met by whoever aspires to post ads. In fact, many companies such as Googles own Alphabet or competitors Amazon make up to 84 percent of their revenues through ads.
Repercussion on cryptocurrency and International Frame
Spencer Scott justified Google’s move on cryptocurrency by stating “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,” this move caused Bitcoin to drop its value below $8000.
In fact, Bitcoin has been subject to many controversies, since many governments do not approve of Bitcoin, and postures have varied in a wide variety of measures regarding Bitcoin owners.
For one India considers Bitcoin to be an illegal currency, while China is sure to completely cracked down on cryptocurrencies by the end of the year according to many analysts.
The U.S is one of the harshest countries on cryptocurrency owners, especially because the I.R.S does not see cryptocurrency as the actual currency it is but as property. That is to say that if a person purchased $1,000 dollars on Bitcoin this individual earned $20,000 by December, however, if this person cashes out it will immediately owe the U.S government $7,000.
Currently, most governments have been taking severe measures against cryptocurrency owners, making an obscure future for its users.