Google announced in an update to its financial products and services
policy that regulated cryptocurrency exchanges will be once again
allowed to advertise in the United States and Japan.
As stated in the policy update, "Advertisers will need to be certified
with Google for the specific country in which their ads will serve.
Advertisers will be able to apply for certification once the policy
launches in October."
Advertisers can get certified by meeting local licensing requirements, a
list of them being made available for all regions on the "About
restricted financial products certification" support page.
The new policy which will take effect starting in October 2018 will be
applied on a global scale to all advertisers who want to buy ads for
cryptocurrency-based products.
With this policy update, Google is going back on the decision it took in
March and rolled out in June which banned wallets and trading services,
as well as initial coin offerings (ICOs) from being advertised in an
effort to protect customers from threat actors trying to exploit the
public's willingness to invest in this volatile commodity.
"Google's decision to allow cryptocurrency exchanges to advertise on its platform follows the one made by Facebook in June"
After Google's new cryptocurrency ad restrictions were implemented in
June, Bitcoin's market valuation suffered a more than 10% fall.
The changes Google made to its financial products and services policy
still doesn't allow ICOs and wallets to advertise using Google's ad
network while making an exception for cryptocurrency exchanges which are
seen as less risky at the moment.
Google is not the first tech company which reversed their cryptocurrency
ban, as they are following Facebook's June decision to give vetted
cryptocurrency advertisers a break and allows them to advertise on its
platform.
After the original ban on cryptocurrency advertising, Google's Scott
Spencer said to CNBC that "we don't have a crystal ball to know where
the future is going to go with cryptocurrencies, but we've seen enough
consumer harm or potential for consumer harm that it's an area that we
want to approach with extreme caution."
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