Earlier this year, Google decided to follow Facebook’s lead and enact an immediate ban on all crypto related adverts. The move was seen as controversial, as it frustrated a number of top crypto firms. The blanket ban was then imposed by a range of other advertising platforms, and is potentially one of the causes for such a dead ICO market this year. However, Facebook decided to backtrack on its crypto ad ban back in June and it appears as if Google is a bit miffed by its decision. Facebook’s backtrack on the ban means that it’s the biggest ad platform offering crypto ads – raking in huge profits and leaving Google in the dust.
Not Wanting to Be Left Out
Google has clearly begun to miss the vast amounts of revenue it made from crypto related ads – this could be one of the biggest reasons for it rolling back the ad ban. Its Google Ads (previously AdWords )platform will now be back in direct competition with Facebook, meaning that companies running crypto ads on Facebook should see a slight reduction in cost, as Facebook readjusts its cost per click now it has some competition in the space.
Stringent Policies in Place
Google is coming back with a bang and will be rolling out crypto ads to a select few companies in the crypto community. To prevent every ICO under the sun from dumping their marketing budget onto Google Ads, it will only accept ads from regulated crypto exchanges in the US and Japan targeting audiences in those countries that it has a license to deal with. For example, a registered crypto exchange in America – but without a BitLicense – will not be able to display ads to people in New York. Crypto exchanges will be able to apply for a crypto advertising account as soon as the policy change comes into effect in early October.
Sergey Brin Mining Ether
Sergey Brin – Google’s co-founder – has publicly opened up about his crypto mining adventures with his son. The father-son pair have been mining Ethereum in their spare time as a “side-hustle” for a while now. Brin is heralded as a pioneer of modern technology and you can be certain that the internet would not look the way it does without his contribution.
This move from Google to backtrack on its controversial ad ban will come as welcome news to crypto exchanges in America and Japan, but will cause heartache for all the rest. Exchanges from other countries could feel left out, especially if they do a large amount of business in Japan or America.