After the Bakkt huge announcement regarding the BTC futures, the crypto community gets another great news. Google revealed that they are about to adjust their previous ban on crypto-related ads.
Google loosens its crypto-related restrictions
Starting in October, Google plans to loosen its limitations and the search giant promises to allow regulated crypto exchanges to buy ads in Japan and the U.S. crypto businesses that fill the bill will have to apply in each country to have their ads run.
This way, Google will be able to pick which ads eventually go live.
The search giant makes most of its income from advertising, and this is no secret.
Along with more top tech companies have taken heat for sharing their users’ data to bring in hundreds of millions in ad revenue.
Google implemented the ban in March
Back in March, when the ban was introduced, Google said that they have to be cautious with crypto related ads going live because consumers were in danger regarding all kinds of crypto scams and fraudulent ICOs which were on the rise.
Back then, Google’s director Scott Spencer said the following to the public via 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.”
The crypto sector evolved and matured
Since then, the crypto sector continued to develop and mature, and now a lot of businesses and individuals will be working hard to separate the worthwhile projects from the useless money grabs and dangerous scams that have been in the cryptospace.
Anyway, overall, this step that Google just took only shows that good projects will be supported and they will provide value.
Google will have its eye on crypto related ads and this decision shows that the tech giant is ready to support the new wave that the financial industry is riding which involves crypto.
Ads that include crypto trading advice, ICOs and crypto wallets will still be banned. Read more details here.