Recently, claims have emerged that the advertisement of cryptocurrency ventures is becoming difficult on Google. This follows a move by Facebook to ban all the cryptocurrency ads. People are wondering if Google wants to follow a similar route. There are sources saying Google has not announced any official changes concerning its policies for ICOs and cryptocurrencies. The worried voices that are coming from the marketing industry of cryptocurrencies, however, paint a different picture . Google is the chief of internet and looks like it wants to go after the fast-growing and prominent cryptocurrency industry.
Advertisers are already reporting challenges and difficulties in advertising products that are blockchain and cryptocurrency-oriented.In April 2018., Google bans all cryptocurrency mining extensions from Chrome Store. The channels which showcase content that is crypto-related are reporting that they have been banned from the platform of YouTube. The changes of policy by Google have not yet become official but many firms and PR agencies have reported a drop in the performance of customers who provide cryptocurrency services. There are even cases where the advertisers get their ads rejected and even suspension of their accounts. Some companies have also reported that they have witnessed a drop in AdWords performance by thousands in a day. The drop in the numbers coincided with the adverts that crypto-currency related being regarded as limited during submission.
The recent approach to cryptocurrency is not however limited to the realm of advertisement only. Some bloggers of cryptocurrency and shows have also reported that they have found out that their channels have been restricted or even suspended. Some of the restriction includes cancellation of the feature of Live Video and demonetizing. People are still trying to understand why it is all happening when Google has not made any official announcement of a change of its policies. People have come up with several theories whereby some are contradictory and overlapping at the same time.
One such theory is that this is an overreach by the policy of Google against malicious ads, crypto scams, and fake news. The other common interpretation is that Google is being meticulous in regard to advertisements that are coming from the cryptocurrency advertisers. There are claims that the policy of advertising is very clear by Google but when it comes to cryptocurrency firms, the approach gets a bit stricter and unforgiving as compared to the other industries.
The Prospects of a Ban

The other explanation being given by reliable sources and other forums of professionals is that it is an the intention and effort of Google to restrict advertisements related to cryptocurrency and even go to an extent of blocking them. According to a reliable source, the move of banning the cryptocurrency ads was raised by a Jason Roy, a Canadian regulator four months ago. The senior investigator said they were pleased by the move by Facebook to ban the ads and he hoped that Google enacted the same policy. The move was rejected at first by Google claiming that it did not want to prevent the whole industry from advertising as much as it was already dealing with fraudulent and misleading ads. However, it looks like it eventually changed its mind.
Sources have confirmed that Google is really intending to ban the ads which are related to cryptocurrency. Google is banning any advertising related to cryptocurrency. The update is said to go into effect starting June 2018 . The company is updating the ad policies that are related to finance to ban advertisements regarding content related to cryptocurrency including trading advice, wallets and the initial coin offerings. This means that even those firms with legit offerings of cryptocurrency will not be able to advertise through Google advertisements products. The company claims that they can’t know the future of cryptocurrencies but they have already seen potential harm and hurt to consumers that the business is causing and they want the matter to be approached with caution. As much as the boom of cryptocurrency has offered big wealth and excitement, it is a space that is still unregulated and this has given out numerous scams of high profile.
This comes after social media platforms like Facebook banned advertisements which are related to cryptocurrency so as to protect its viewers from Ponzi schemes, fraudulent sale of tokens and ICO scams. The move came with the report of “bad ads”, a review of the controversial, deceptive, malicious advertisements that Google scrubbed from its massive video, display and search network. However, this is contradictory to what the leaders of such platforms like Facebook think. The people who are responsible for creating platforms of social media like Facebook have praised cryptocurrency and the technology of blockchain underlying it. It somehow creates juxtaposition since the companies which they are responsible for have enacted policies which stifle the development and adoption of blockchain.
A representative of Facebook has said that the policy is broad intentionally as they work to detect the misleading and deceptive advertisements better. It is likely possible an advertisement from a cryptocurrency related company or business might not be allowed on Facebook even when it is not related to any aspect of cryptocurrency. Facebook is however committed to refining and revisiting the ban policy as the signals are enhanced to allow for the advertisement of services and products that are not related to cryptocurrency even from the crypto related companies. The innovative startups might have to go elsewhere if the financial watchdogs in the United States and other parts of the world do not develop clear rules for the market of cryptocurrency.
Also, there is an irony to the move of Google. As much as the adverts regarding cryptocurrency will end, Google might be stiffing the development of companies that it has actually invested in which use cryptocurrencies directly. There are companies such as Storj, blockchain-based cloud storage and the platform of payment Veem that Google has financially backed which will be unable to make advertisements on the search engine as soon as the ban is brought into effect. The move of banning cryptocurrency advertisements comes less than a year later after Alphabet; the parent company of Google put investments in Blockchain.info online wallet which is based in London. It also remains a mystery how services like this will be in a position to advertise after the ban is brought into effect.

At that time, the partner of Alphabet Hulme Tom said that the company’s investment raised almost 72 million and the overall funding was necessary since the innovation pace in the space of digital currency is unmatched. Yet the wallet providers of cryptocurrency will not have access to the biggest internet search engine in the world in less than one month – New restricted financial products policy (June 2018).
Google said last year it took down over 3.4 billion advertisements which violated its standards and regulations and this was almost double the 1.8 billion ads that were taken down the year 2016. Alphabet, the parent company of Google makes almost 80 % of its revenue from ads and there it is important to convince advertisers the company’s ecosystem is effective and safe.
The Impact of the Ban
There are a few individuals who might mourn the advertisements barrage for the shady initial coin offerings which promise a return of 10 times and more. However, the space of cryptocurrency is a new economy that is booming and such a general ban may end up hurting other cryptocurrency businesses that are legitimate. Blockchain looks like the next financial big thing and Airbnb and Uber that are blockchain-based are being envisioned already. Actually, it is hard to get an industry that the startups related to blockchain are not threatening to disrupt. In the real sense, not all the crypto businesses are scams. So is the move to ban advertising from all these businesses on the major internet platforms good?
A Cryptocurrency Company’s CEO, Trevor Gerszt said he is not afraid of the move but he does not welcome it. It is a frustration for a legitimate business like Coin IRA which has done everything to comply with policies and offer legit investment products to be punished together with the scum ICO schemes (“Exclusive: Is Google Quietly Purging Cryptocurrency Ads and Content? | Finance Magnates,” 2018). However, the ban on ads may not affect the more reputable and established businesses of cryptocurrency as more as they are bound to impact the small businesses that want to use advertisements to gain brand recognition. For the startups, this means the ban will make it harder to get funds through an ICO. For the cryptocurrency related businesses like wallets and crypto exchanges, the move to ban such ads is definitely bad news. The startups which are blockchain based will be allowed to post their ads on Google as long as they do not include the aspects of crypto in them like wallets, tokens, ICOs, and others. The policy does not apply to technologies related to blockchain which do not have a relation with ICOs and cryptocurrency but the advertisements have to adhere to the company’s other policies.
The famous biggest digital currency in the world, Bitcoin has dropped to month low after this incident. The company slumped to its lowest level in a period of less than a month after the claims banning online advertisements that promote initial coin offerings and cryptocurrency. The industrial officials have said that these regulators are required to give greater clarity of the regulations. Bitcoin dropped by 9 % to $8367 which is the lowest it has reached since January when the company announced that the restriction will start working in June (“Google bans cryptocurrency advertising,”2018).
Some of the CEOs of crypto-related business have said that they do welcome the ban and the people that might be disappointed by the move are the con artists and the scammers. The large amounts of money which are earned in ICOs are based on relationships and most issuers who are legitimate have a good connection with blockchain and crypto funds. Some CEOs argue that the ban will bring a positive transformation to the industry and will assist in cleaning garbage (“Exclusive: Is Google Quietly Purging Cryptocurrency Ads and Content? | Finance Magnates,” 2018). The CEOs of Delta and CrowdfundX are not worried either. They say Google wants a better experience of advertisements for the viewers and the cryptocurrency community as a financial market also wants legitimacy. The restrictions are definitely part of the steps to filter the illicit businesses and activities from those which are genuine and have innovative products.
The market will become stable eventually and the activities which mislead will be removed. The companies that are going through ICOS should concentrate on showing their value through evidence and creating innovative and great products. In a way, it is not strange that the legit startups which are blockchain-based are not worried about the ban. Several startups have to fend off investors like Gems and Theta that have canceled ICOs recently because they raise too much revenue in the private pre-sales . As much as some startups that are unlucky though will be hurt by being unable to advertise their sales of tokens, it looks like the blockchain space has become so hot that even the general ban will not kill or even hinder it. It may just make it slow for some time.Some experts see The Cryptocurrency Industry Might Actually Benefit From an Ad Ban
Where To ?
This is a question that cannot be answered for some time. The entire world is waiting for regulatory rules and guidelines that are clear on ICOs and cryptocurrency. As much as the likes of SEC are pioneers in this space, we might experience constant apathy towards promoting cryptocurrencies and ICOs on several online platforms for a period of time. Unless there are guidelines and firm rules that will protect may viewers and users from misleading opportunities of investments and ICO scams, the extreme sanctions will still remain. Otherwise, the efforts to ban these advertisements will go to waste if the guidelines are not very clear and strict.

Overview
Google is the worlds leading search Engine Company and the second largest public traded entity globally. With the rising call for more accountability of institutions that deal with the general public in ensuring fair, ethical and open dealings, Google is not left behind in complying with these elements. In the recent past, there has been an uproar on the rising deceptive adverts running online, with a clear aim of confusing unsuspecting potential investors, and when they fall into the trap, they are ripped off their hard earned money. Google, being a world leader in the advertising sector through its AdWord platform has seen it necessary to exercise accountability through enabling only the certified financial advertisers on its platform. In its announcement, Google has cited ban in its platforms the advertisement relating to the initial coin offering (ICO), cryptocurrency wallets, exchanges, as well as trading advice. The ban also extends on other financial products such as binary options and spread betting. Forex advertising network will change after new Google restriction to forex trading ads.

In the past google banned search terms for lot of products. All these have to do with investor protection initiatives due to the rising fraudulent cases involving unauthorized brokers taking advantage of the high wave for quick cash in these unregulated financial products. With concerns mostly emanating from the US exchange commission concerning the ban on ICO advertisements, Google’s move is seen as a precaution to avoid a future clash with the authorities on its role in consumer data and protection. On the same note, other major players in the advertisement world such as Twitter, Facebook, Yandex have taken measures to control the same types of adverts on their sites, either by pre-approval or by total ban, due to concerns they have raised over legitimacy and also because of maintaining the overall image of these sites.
What Does Google Ban Entail – Google Bans Forex Ads ?
Google’s annual earnings in financial adverts of cryptocurrency and related products have been estimated to be over $25 million. Nevertheless, Google has mounted to the pressure of axing most of these adverts due to the security of its clients, consumer protection obligation, as well as the future accountability and company image. This is largely due to fraudulent cases associated with the unregulated cryptocurrency sector and the looming security and exchange commission rules on protection of cryptocurrency investors. Canada and the U.S. have been in the forefront leading the war on ban for adverts on ICO and calling for the establishment of regulations in the online financial sector, especially cryptocurrency which in the recent past has hit the world by storm. Many investors have lost billions of dollars, mostly emanating from deceiving adverts which unsuspecting traders fall into the prey. With. This has come to the attention of the Google as a main player in the advert world.

Financial Services: New restricted financial products policy (June 2018)

In June 2018, Google will update the Financial services policy to restrict the advertisement of Contracts for Difference, rolling spot forex, and financial spread betting. In addition, ads for the following will no longer be allowed to serve:

Binary options and synonymous products
Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)

Ads for aggregators and affiliates for the following will no longer be allowed to serve:

Contracts for Difference
Rolling spot forex
Financial spread betting
Binary options and synonymous products
Cryptocurrencies and related content.

Advertisers offering Contracts for Difference, rolling spot forex, and financial spread betting will be required to be certified by Google before they can advertise through AdWords. Certification is only available in certain countries.

To be certified by Google, advertisers will need to:

Be licensed by the relevant financial services authority in the country or countries they are targeting
Ensure their ads and landing pages comply with all AdWords policies
Comply with relevant legal requirements, including those related to complex speculative financial products

Advertisers can request certification with Google starting April 2018 when the application form is published.

This policy will apply globally to all accounts that advertise these financial products. For more details, see About restricted financial products certification.

(Posted March 2018)

The force on the ban will come to effect on this June 2018. Brokers in the mentioned financial areas will be undergoing a thorough scrutiny before they get approval for placing the adverts. This will eliminate unscrupulous brokers who sell unregistered securities or who pose as genuine brokers only to run away with investors’ money. After scrutiny of the broker information, Google will either reject or approve the specific broker. When approved, the broker will be issued with special certification to allow them to advertise for their product in their requested target region. Nevertheless, for one to qualify for certification by Google, the firms they represent must have acquired the necessary licensing to operate in the regions they intend their adverts to target. On the other hand, they must have conformed with various laws and regulations regarding their business in order to meet the AdWord requirements for the specific geographical area.
All these processes are aimed at bringing in some sanity in the cryptocurrency sector by offering protection to the investors, especially from deceiving adverts being run by fraudulent brokers posing as legit traders. The cryptocurrency craze, especially the one witnessed by Etherium and Bitcoin has seen hundreds of other digital coins emerge, with fraudulent traders taking this advantage and floating offers in terms of advertisement for unregistered securities, which has seen either a total market collapse of the specific securities, or marginal shift in value for a short period. In this process, billions of dollars have been lost and hence the call for regularization, especially in the adverts concerning this sector as it acts as the backbone of the whole process.
A good example of a fraudulent case concerns a California based tech company Tezos, which conducted an ICO in July 2017 and got a staggering $232 million, which later would emerge that it was a fraudulent deal based on a lawsuit filed at a superior court in San Francisco, alleging violation of U.S securities law. In such a case, Google and other social media players who are more involved in advertisement of such nature have seen the need of regulating the advert content. This is amid a growing concern of the investor protection following a huge amount of losses due to reluctance in streamlining the advertising sector, as well as that of the digital currencies.
The Effects of the Ban on Google, Brokers and the Investors
Google through its platform Adwords lakes in billions of dollars in terms of advertisement revenues. In the recent past, one of its most lucrative sectors for the advertisement has been cryptocurrency related adverts. It is estimated that from this sector alone, Google earned an estimated $25 million annually in terms of advertisement revenues. Nonetheless, Google is concerned more by reputation, consumer protection and future accountability, more than revenues for now. In 2017, in a move to safeguard investors and consumers in its platforms, Google pulled down an estimated 3.2 billion ads that violated their terms of use. Through its annual report, Google indicated that it was more concerned about the user experience rather than the advertisements. Therefore, in the long run, the gain will be higher than the estimated loss in revenue for now, as more consumers gain confidence when dealing with the platform and increase their spending and advertisement due to the legitimacy of the site. This news was one of the biggest news on Bloomberg such as Bloomberg video about Google financial restriction and Bloomberg news about bitcoin drop and CNBC news about google bans cryptocurrency
For the brokers, the best time to make a difference is now. All is not lost. In fact, this is the time for those who offer genuine adverts to take the advantage and get certification as the unscrupulous brokers get scared. For the genuine brokers, this is the time for the right push for their products. As the Google positions itself as an open and genuine platform, the brokers have the opportunity to associate with these attributes now and in the future to gain investor confidence. On the other hand, as the market penetration will now become difficult, brokers can explore other options such as optimization of the Google search ranking, operating genuine websites and performing offline marketing. On the same note, trading companies can increase their social media presence, as well as increase traditional advertising such as below the line marketing and Radio or TV advertisements. This will ensure that even when they face the ban effects over the Google AdWords, their presence is still felt on the other platforms, and they are able to maintain their clientele informed.
On the investor side, the Google ban means more than ‘just a ban’. This will increase client confidence and user experience which is good for the company also. The users will feel safe and valued and therefore, giving them the confidence to transact over the platform. The ban is also a sort of assurance that the adverts which appear on the AdWords are genuine and have been verified by Google, creating a responsible environment where users can feel secure with whoever they will be dealing with. Investors are always concerned about how secure their payment will be and therefore, having a notion that the existing brokers are certified and the adverts thus are genuine, this in turn provides confidence in the choice of investment. The move will also ensure that fraudulent cases are reduced and in cases where they appear, Google is aware of how to hold accountable as it will have already verified the user and known them more.
Without consumers, organizations can barely survive and thus the need to be more vigilant in protecting them whenever possible. The move by Google can be termed as a broad move for the interest of its users and to avert future troubles of being held accountable for the damages or losses which may emanate from a non-regulated advert sector. This move has also seen other big players extend the same measures, and sooner or later, it’s the hope of many investors that they will operate in a world where deceiving adverts will be a thing of the past and where brokers will be responsible. This reality is not way too far considering the measures being taken presently to attain a free fair and genuine advertisement world.