Ever got that sinking feeling upon opening Coin Market cap these days. The market has been crippled with bans, hacks and other controversies there seems to be no stopping.
End of January social media giant Facebook announced it had banned crypto related adds and now Google, the worlds biggest search has sent shockwaves announcing their ban all cryptocurrency related ads.
Since the announcement, Bitcoin saw a drop of around $2000 while the market cap slipped to a new low of about 315 Million but since then has been on the recovery and if the past is any indication the drop shouldn’t come as a surprise.
What the Google Ban Means
In the official statement made by Google, it announced that steps to curb ICO ads on the Google had been initiated and that they were also overhauling their Financial services policy to keep tabs on any crypto related ads which will come into effect from June.
But it’s not all dull and gloom, there’ always light at the end of the tunnel. The ban isn’t a complete crackdown on crypto, it’s just making things a little stricter and legit.
In order to advertise using AdWords, the company will need to be certified/licensed by Financial institutions of the target country which wasn’t mandatory in the past.
Furthermore, they will also need to comply with the terms and conditions of Google AdWords and complete any verification or legal process needed to advertise such assets. The certification form will be available on Google itself from March 2018
Online advertising gets tougher every day with increasing competition and bans by Facebook and Google, two the largest advertising platforms are bound to get developers scrambling for greener pastures.
But the ban doesn’t come as a surprise, for long these platforms have faced the brunt of poor, shady ads that act as a bummer to users and take space away from legit ads.
Bad ads are a real thing – The Stats
Did you know last year alone google pulled the plug on over a billion ads? Woah, never would have guessed that right? Here are more jaw-dropping stats. The banned ads included 79 million malware-rigged ads, 400,000 unsafe sites, 65 million Trick to click ads and 47 million sites aimed at getting malware software installed.
While Google had last made about 50 changes to their advertiser and publisher policies in 2017 to improve user experience the rise of crypto and with it the risk of scams has forced Google’s hand into making further changes.
For those with a keen interest in crypto, the ban can be a mixed bag. While it will curb out the scams to an extent, there’s also a risk of legit businesses being unable to reach the masses, in turn, resulting in their downfall.
What impact do you think the ban will have on the market? Do you think Google is right to place these restrictions?