Following the example of Facebook, Google has announced that it will ban advertising materials with cryptocurrencies and ICO on its platform. The new policy will come into force in June this year, which will affect the search engine, advertising on YouTube and the advertising network.
Google is aimed primarily at preventing harm to consumers, and it follows Facebook, which adopted a similar policy in late January. The prohibition will also apply to other financial products considered unregulated or speculative, such as CFDs and options.
The number of misleading and malicious advertisements, including ads that intentionally look like system errors, and fake news, has increased dramatically in recent years. In 2017, Google removed more than 3.2 billion ads that violated its policies. This is an average of 100 ads per second and about 1.5 billion more than in 2016. In addition, in 2017, Google has removed more than 130 million ads, in which hackers entered the mining code to critobulus like Monero – the practice is rapidly gaining popularity among cybercriminals.
Last year, the rapid rise in the value of bitcoin and other coins was partially fueled by last year’s explosion in the ICO. Unfortunately, this nascent industry has also been associated with fraud. Ads that promise a very good return, has led to the fact that many investors lost their money. This has led to repeated warnings from regulators who believe that most ICOs are security offerings and therefore subject to registration.
Fortunately, the current news does not have a direct impact on bitcoin, the world’s first decentralized cryptocurrency. It’s one of the few coins that doesn’t have a marketing Department, no centralized team and no CEO, and it’s not registered as a fundraising company. It is therefore not surprising that the bitcoin community has largely responded positively to the news.
“Only organic results when searching for bitcoin!”, – Says the comment of Reddit.
The decision will mainly affect ICOs and those altcoins that rely heavily on marketing.