Home » Technology News » Shocking! Google to debar Bitcoin and other 'Cryptocurrency' Ads on its platform; Here's why

Shocking! Google to debar Bitcoin and other 'Cryptocurrency' Ads on its platform; Here's why

Speed News Desk | Updated on: 18 March 2018, 12:30 IST

The cryptocurrency like Bitcoin, a digital coin has made a big buzz worldwide after its bombarding promotion and Ads. Earlier, people were still blank about 'what it is?” After getting things clear about the Cryptocurrency, people started investing and earning a huge amount of profit. However, the Indian government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate the use of these crypto-assets in financing illegitimate activities. Well, now Google is all set to take a big move over cryptocurrency ads on its platform.

Recently, a report said, that Google has announced a 'total ban' on all the cryptocurrency related advertisements from its platforms. The google will take out all the Ads from the June of this year. Cryptocurrency related refers to ICOs (initial coin offerings), wallets and trading advice.

This means that all the companies with authorized offerings won't be allowed to promote themselves at any of the Google's Ad services platforms including Adwords. Instead, they will have to opt for advertising on their own website or through third parties.

The director of sustainable ads at Google, Scott Spencer, stated that the company has seen the harm that fake offerings has done for the public and has opted to remove them altogether to prevent any future harm to consumers.

Before Google, Facebook has also banished the cryptocurrency Ads earlier this year. Both Facebook and Google follow the same suit of a total ban on cryptocurrency. The motive behind the total ban of crypto Ads is to prevent people from promoting and misleading or deceptive ploys to scam consumers.

However, this ban will not just affect the crypto-currency companies business but also to those who are professionals in the field and sell their expertise on youtube and promote it on Google and Facebook.

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First published: 18 March 2018, 12:30 IST