Google tightens its policy against crypto advertisements

From January of the next year, Google will impose new rules against all crypto-related advertisements to keep suspicious crypto advertisements away from Google’s digital ecosystem.

Google LLC is a popular American international technology company focusing on artificial intelligence, online advertising, search engine technology, cloud computing, computer software, quantum computing, e-commerce, and consumer electronics. In the majority of countries, Google is mainly known for its Google search engine, video-sharing platform YouTube, & Google smartphones. 

In the past couple of years, Google Cloud Platform (GCP), a cloud computing service offered by Google, showed significant inclination toward Crypto, Blockchain, & Web3-related development activities to attract developers from the corresponding sectors. 

Between 2018 to 2021, Google banned crypto-related every kind of advertisement activity, as huge numbers of crypto platforms were running suspicious & Ponzi crypto investment schemes. 

Later Google opened its hand slowly for this sector so that genuine platforms can get the opportunity to advertise their services across the Google ecosystem & its partners.

In the latest update, Google confirmed that all the crypto-related advertisers would be required to clarify their vision & reason for their corresponding crypto advertisement. 

Google’s new policy includes some specific requirements for the advertisers to qualify to show their ads which will mainly focus on the US jurisdiction. The new rules will come into effect by 29 Jan 2024. 

According to the majority of the reports, this latest decision by Google will surely help to filter out almost every type of Ponzi crypto investment scheme, which was highly popular during the 2017 phase. 

In Oct of last year, many reports noted that Google faced very high losses because of the highly intense bear phase. In 2022, Google’s revenue plunged by 6% and the contribution of the Crypto sector bear phase was significant. 

In 2022, many crypto & non-crypto companies distanced their hands from promotional activities and also laid off huge workforce, to maintain the financial position of the companies. 

Read also: Former SEC official says Binance could face more charges