Google will ban all advertising relating to cryptocurrency by June 2018.
The search giant announced the change in its latest
Financial Services policy update, which states advertising for any crypto-related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice) will not be accepted. This change applies to both its main proprietary and affiliated advertisement platforms.
Bitcoin prices sagged after the announcement and have been struggling to recover since. It was trading over $9,800 on Monday and dipped as low as $7,800 by Thursday.
Via CoinMarketCap. Click to enlarge.
Facebook banned cryptocurrency ads back in January 2018 over a perception of “deceptive promotional practices”.
Many in the crypto space don’t see this as anything close to a “death knell” for the digital currency.
Bloomberg's Lionel Laurent proposed that this is a prime opportunity for Twitter to foster an audience it has already been building. Could the land of 280 characters soon be home to tweets about ICOs and trade tips?