Google has announced that it will be updating its advertisement policy in the next month. This will allow certain cryptocurrency companies to use the platform to advertise.
According to an official announcement released by the tech giant, the advertisement policies will enable regulated cryptocurrency businesses to advertise in the United States and Japan. The announcement states:
“The Google Ads policy on Financial products and services will be updated in October 2018 to allow regulated cryptocurrency exchanges to advertise in the United States and Japan.
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.”
In July, the internet goliath banned all mining applications from the Google Play Store. The move forbade the presence of applications which are actively involved in mining cryptocurrency. However, those that ‘remotely manage the mining of cryptocurrency’ were still allowed to remain active.
This followed another ban in April that saw the Chome extension prohibit mining extensions.
In March, Google made the decision to ban all cryptocurrency related businesses from buying advertisements on Google’s Adwords platform. When the ban was announced, Google had said that it was in place as a means to protect customers from fraudulent projects. This included initial coin offering projects, cryptocurrency trading exchanges, cryptocurrency storage wallets, and trading advice.
The beginning of the year saw a wave of banning from social media platforms. In January, Facebook cracked down and banned crypto advertising on the website, March saw Twitter and Snapchat prohibit advertisements from the industry.
It seems as though Google is easing up on the restrictions, or at least is testing the waters with regulated control. It has yet to be detailed what the regulations might look like, and we might only find out in October. It also remains to be seen whether this will spark a trend and see the other platforms ease up too.