Google To Follow Facebook Banning of Cryptocurrency ICO Advertising
Some of the advertisers that use the Google Adwords platform to promote businesses related to the crypto-coin sector are seeing a major drop in the views of their ads. Other users of Google Adwords have claimed that both their ads and their accounts have been shut down. News of this action was first revealed in early February 2018. If this turns out to be true, Google would be following closely in the steps of Facebook, which shut down all ICO advertising.
What The Data Shows
According to data anonymously given to Finance Magnates by ang ICO marketing company, the views of ads via the Adwords platform plummeted by the thousands. According to some of the data Finance Magnates received, the advertisers saw their click-through rate drop to zero over a 24 hours period.
This may be connected to recent decisions that Google has made. Although Adwords will allow users to runs ICO ads, they will usually define these ads as limited. This means that they will still go through but will not be shown to certain regions, devices, or age groups.
When you check the Google Adwords issues section, you will find numerous posts of companies in the crypto sector. These posts show that Google is suspending crypto ads on a regular basis. In other posts, entire accounts have been suspended or even terminated in some instances.
What The Posts Say
One user in the issues section claims that her account, which was tied to a blockchain development company was terminated with no chance of reinstatement. Apparently, it had “misrepresented” the facts.
However, she complained that after analyzing the site she had promoted, she did not find anything that had violated Google’s policies. She said that her company was a blockchain development company, which offered its services in the UAE. She requested that the Google team tell her what the exact issue was, which had led to the account’s suspension.
A responder in the issues section suggested that accounts might have been suspended because the Financial Services regulations of Adwords were not being followed. Another user suggested that crypto ads were being suspended since advertisers were not making it clear that crypto comes with a very high risk for the customers.
This Is Similar To What Facebook Did
In January 2018, Facebook was not so subtle about its distaste for crypto. It issued a blanket ban on all advertising for any ads related to the crypto business. It said the reason for this had been deceptive promotional practices. It has been unofficially reported that Google may be considering a complete ban, similar to the one by Facebook. This ban might take effect in the month of March.
This suspected ban of crypto by Google may also have something to do with a request from Canadian regulators. A month ago, they openly asked Google to initiate the ban. However, Google is said to have officially turned down the request, claiming that it did not want to limit an entire sector from accessing the Adwords platform.