Google announced that it’s going to resume cryptocurrency-related online advertising on their platform after previously banning them in March. The tech giant says at the beginning of October they will allow regulated crypto exchanges to run ads on their platforms in the US and Japan.
The initial ban occurred in March, due to a surge of high-profile initial coin offerings (ICOs) and other crypto activity that made it challenging to distinguish between fraudulent and legitimate ventures. As for right now, Google will still reject ads for ICOs, ads for crypto wallets and trading advice.
The reason why Google lifted the ban is entirely unclear; however, one would speculate maybe the company is thinking about acquiring a crypto exchange. In June Facebook also lifted its crypto advertising ban for specific types of crypto-related ads, similarly excluding ICOs. Facebook removing the ban brought speculation that the company is thinking about acquiring Coinbase.
Google and Facebook removing the baned on the Cryptocurrency ads is big news for the crypto space because this could mean both of these company might be working on something in the background, and also implies crypto is here to stay. There might be a race going on for crypto adoption, and nobody is noticing it.
What do you guys think?
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