Yes, it is true that Google is going to ban the adverts for cryptocurrencies, from this coming June. As the cryptocurrencies have no regulations and authority, there are high chances that the publishers may generate million dollars through Google adverts and will then disappear. In such situations, the investors will be in great trouble as it is difficult to track down the cryptocurrencies transactions.
In an official blogpost, Google’s Director of sustainable ads, stated – “We have made necessary changes in our adverts policies for various financial products including cryptocurrency, binary options, foreign exchange markets, Contracts for Difference and others”. The director also hinted that Google adverts would also be blocking the gambling ads, which are subjected to skins betting.
At present, the internet world is full of advertisements, and the users are getting some benefits from those adverts. In such situation, the adverts for sensitive financial products may disrupt the ecosystem of digital transactions. The risks of online scams and frauds are very high with the cryptocurrencies, and thus it is necessary to block the respected adverts.
Previously, the rival company – Facebook has also blocked the adverts for cryptocurrencies and ICOs in early January. According to Facebook, the advertisers may misuse the adverts technology to reach potential investors and can lead the process into a scam. With the development of technology, it is very important to design necessary restrictions for adverts, and thus Google has also initiated the ban on cryptocurrencies adverts.
In past few years, the cryptocurrencies and ICOs have earned good popularity in the digital market. The investors have shown keen interest towards the profitable returns on cryptocurrencies. According to a statistic report, Bitcoin was trading at around $20,000 in 2017. There is no doubt, the cryptocurrencies are the ultimate future of digital transactions and exchanges, but at present, the online adverts do not fit with the modules of cryptocurrencies.
Around 85% of Google’s overall revenue comes from the advertising. It is estimated that Google’s adverts revenues will increase to $40 bn by 2018, which will beat Facebook into the second place. Google has always designed its features and implementations as per the convenience of users. In 2017, Google has removed more than 3.2 bn ads for violating the regulations and policies.