Today March 14, 2018 Google has announced a halt to CryptoCurrency Ads effective in June of this year 2018.
Following in the Footsteps of Facebooks recent ban on CryptoCurrency ads, Google aims to reign in the fun for advertisers of the golden computer currency. Not only on cryptocurrency but ICO’s as well.
As of June all new ICO offerings will have a tougher time advertising on the internet without the use of Google Ads and with the removal of Facebooks support recently getting the word out on bitcoin and cryptocurrency offers will have become much harder to accomplish in the wake of losing access to the 2 Giants in the online advertising arena.
Prices Falling Today in Cryptocurrency?
As can be expected knee jerk reaction to the news has caused bitcoin and other cryptocurrencies to open today lower than previous. Prices in bitcoin and other coins are down 2 to 5 per cent. This is what usually happens in the markets short term when news affecting a sector occurs.
Update: Prices now down 10-13 per cent Google Hammer Affect Today
Other ad areas hit by Google as well besides Crypto
Google is not only Halting Cryptocurrency Ads they are taking aim and targeting other areas as well, including online gambling in products such as binary options, CFD’s known as contracts for difference as well as as foreign exchange markets. As gambling in the real world in evolving Google states its gambling ads policies have to change to keep with the times as well, citing things like skins gambling and making reference to ICO’s and such.
Google also mentions about battling and taking down 3.2 billion in ads in 2017 alone that violated its policies. They site problem areas like diet pill scams and weight loss scams etc, having closed down many accounts for tabloid cloaking. Some 7000 accounts up from 1400 in 2016. However the fact that they have been battling fraud and scammers for the last 15 years really brings this as no surprise.
Since the surge in interest with digital currency and bitcoin, so has the increase in con artists and bad actors they say looking to cash in on revenue. So this crack down on bitcoin ads is just a quick step to reign things in before they get out of control from what I can tell.Hmm seems that every business looks to cash in on revenue especially during an increase in demand for something. The problem is Google and Facebook both look to protect their readers from con artists looking to make a quick buck. Probably from get rich quick schemes.
Funny but I did notice just in the last month that affiliate products selling bitcoin guides jumped from a dozen items to several dozen items or more promoting bitcoin and cryptocurrency in some of the popular affiliate areas such as click bank. I guess Google has suddenly received tons of ads for selling affiliate products and red flags probably went off that this would be another problem in the wake of the crypto boom recently.
Although they do not say this directly, it is just this writers observation and guess as to what may have occurred. Between the spam emails I have been getting and the increase in products from affiliates in the bitcoin arena, they obviously filtered into the Google Adsense area as a means to sell and advertise. It only stands to reason, since Facebook shut things down to crypto this year too leaving would be capitalists scrambling to sell their wares.
IS A CONSPIRACY BREWING?
Is this another step closer to a Government Crackdown on Bitcoin?
UP Date: March 26th 2018. Twitter is now banning ICO and other Crytocurrency advertising from their platforms explains Reuters as its being rolled out in the next 30 days. Another blow to the ICO industry and crypto currency investors worldwide.
Is there a conspiracy going on here between all the major social sites and online web powerhouses at Facebook, Google, and Twitter? What do they know that we do not? Are they under pressure by government regulators of whom we have not heard about? What is going on? Is this the start to a major crackdown coming soon?
Or are the powers to be in the financial world just angry and jealous of ICO sales and cryptocurrency and their loss at a piece of the pie and secretly putting pressure on the big sites to not allow them to get promoted….. after all, they do not want everyone ditching stocks and flooding into cryptocurrency…..
Link to us at Bitcoin News: Google Halting Cryptocurrency Ads June 2018