At the beginning of the month of June, Google announced a heartbreaking news for all digital advertising marketers – “any ad related to cryptocurrency will be banned on this platform”. Such a bold move from Google took place when it found out that more than 55% of Initial Coin Offerings in the year 2017 had failed or were at the edge of failing. Therefore, after Facebook, Google also decided to ban any advertisement related to cryptocurrency as 60 to 70% of the digital advertising marketers use these two platforms for marketing purposes.
The sole motive behind this ban on both these platforms was to save their clients from any financial failure. The management at Google was extremely vigilant and wanted to ensure that any person posting any advertisement related to cryptocurrency should coincide with the terms and conditions of Google Adwords. However, with time, the tables have turned! The good news is – same is not the case anymore.
Now, after Facebook, Google has decided to lift the advertising ban related to cryptocurrency and the most shocking thing – Twitter is also in the same league. Chances are, people will now engage more in cryptocurrency in terms of exchange or buying such currency. In fact, recently, the talk of the town was that Facebook was buying Coinbase and was more interested in creating its own unique cryptocurrency though this news had not been announced by Facebook officially and was treated as a marketing rumor. This decision of lifting the ban was basically done after Facebook studied blockchain through and through.
Maybe the trigger point for such decisions occured when many European Cryptocurrency startups decided to sue companies that banned advertisements related to crypto. After this major step, the bitcoin and crypto companies are looking forward to raise the bar for digital currency investors globally. All in all, this is just the initial victory as the ads related to ICOs are still prohibited on Facebook. However, unlike Facebook; Google has kept its ads open to all crypto advertising categories.
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