Google bans cryptocurrency ads on AdSense and other platforms
In June Google will halt the advertising of cryptocurrency related services and products across the Google platforms. It’s a measure seemingly designed to limit risky investment opportunities appearing on their network.likely because these markets are a haven for scammers looking to separate fools from their money.
The announcement was made in a March 2018 Financial Services policy post. It means that a wide variety of cryptocurrency related products will be restricted from advertising via the vast Google ads network from June onward. And it’s not just the currency exchanges which will be hit by this ban either.
The announcement mentions “including, but not limited to, initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice.” as targets for the ban.
Google isn’t the first major network to crack down on cryptocurrency in adverts either, Facebook disallowed ads promoting cryptocurrencies, ICOs, and exchanges from their own network in January 2018.
A lot of PC gamers are displaying cautious optimism about this move. While cryptocurrency financiers and investors, as well as advertisers that rely on AdSense for monetization, are much less enthusiastic.
For PC gamers, the constant demand for mining hardware has caused serious issues with the supply of graphics cards and other PC components. The idea that cryptocurrency having slightly less visibility might have an impact on the supply and demand of GPUs is a bit shaky. But let’s hold out some hope anyway that prices stabilize at least a bit.
The actual markets are reacting as one would expect with negative news like this. After BTC hit an all-time high of nearly $20,000/unit in December 2017, it’s been tumbling steadily downward. The price looked to be rebounding recently until the news from Google this week. As of writing, that average conversion from USD to BTC is $8,140.00 per BTC. That’s still staggeringly high, but it’s an undeniable sign of the volatile nature of crypto markets, which makes some more traditional investors and speculators nervous.
Whatever the outcome for the rollercoaster that is cryptocurrency markets, it’s pretty clear that the ride isn’t over yet. Although the increasing pressure upon both market actors and regulators to stabilize the market may mean that announcements like this one may become more common, with the ultimate outcome of placing more mistrust in the future of cryptocurrency.