This past Tuesday Google announced that they had made significant changes to their internal policies governing advertising, especially those concerning the financial sector. The new policies, which will come into place as of the 1st of June this year, will prohibit any advertising related to cryptocurrencies, the exchange sites, wallets, initial coin offerings otherwise known as ICO’s and any inside trading secrets or guides for cryptocurrency related products.
More on the New Policies
In addition, the new policies go further to stipulate that all advertisements that are in any way connected to analysis-based financial products or financial products that are not subject to the authority of governments or external financial bodies. This will apply to all products such as rolling forex variations and financial spread betting. Any companies wishing to advertise for these things via Google Ad Words will have to gain the necessary certificate from Google before proceeding. To make matters more interesting, Google has made this certificate only available in certain countries at this stage.
The limitations placed on cryptocurrency advertising are exactly the same as the limitations placed on advertising for adult content such as pornographic materials.
An employee at Google, Scott Spencer, stated that the purpose of these more stringent guidelines is to aid in the fight against unregulated financial services online and to create more positive experiences for all users online by removing possible threats. Google has moved to identify some of the newest emerging threats within the online gambling world, including skin gambling and it has updated its policies to reflect current trends within online gambling and online use.
Google has not been the first major company to take a stand against cryptocurrency advertising, Facebook stated in January that it would not allow any advertising for any cryptocurrencies. Especially for any ICO’s which have become renowned for causing a vast amount of distress and extremely painful scams within the online community.
With Facebook and Google out of the picture, there really is very little advertising turf left, well at least if you are looking at it from a net income point of view. Google has been on an extremely adamant drive to rid the online world of what it deems to be illicit materials. Just in 2017, the company removed 3.2 billion ads that they considered to be infringing on its advertising policies, this amount was double the number of ads that were removed in 2016. Google has stated that they are continuously evolving to meet new threats.