The world’s largest online search engine, Google, is about to take a move to target advertising activities related to cryptocurrencies, CNBC said.
Google is currently in the process of updating its search engine financial services advertising policy. Accordingly, from June onwards, Google will ban any advertisements with content related to cryptocurrencies, including fundraising through Initial Coin Offerings (ICO), cryptocurrency wallets, consulting. virtual currency transactions.
This information was just released by Mr. Scott Spencer, Director of Sustainable Advertising of Google, in an interview with CNBC.
The above policy change by Google will mean that even legitimate issuers of cryptocurrencies are not allowed to advertise through any Google products, including the Google website as well as other third party websites.
“We don’t have a crystal ball to know where the future of cryptocurrencies is going, but we have seen consumers suffer enough or risk of loss in an area that we want to reach. Be as cautious as possible, “said Scott.
Google’s tough measure on cryptocurrencies follows the same move to ban ads from virtual currency that Facebook launched earlier this year.
The virtual currency fever has created great excitement and many profits for many investors, this is still an area that lacks regulation by authorities and frequent large-scale scams. .
The move to ban cryptocurrency-related ads is announced by Google when search engines publish annual “trusted and safe” advertising reports. The report says Google removed more than 3.2 billion ads that violated its policy in 2017, nearly double the 1.7 billion ads that Google removed in 2016.
Advertising contributes about 84% of the revenue of Alphabet, the parent company of Google. Therefore, convincing advertisers that the Google ecosystem is safe and effective is of vital importance to the company.
Google’s move is likely to put downward pressure on the cryptocurrency market, in the context of digital currencies lacking supportive information.
At nearly 13:00 this afternoon (March 13) in Vietnam time, the world’s largest virtual currency Bitcoin, according to data on Coinmarketcap, is nearly $ 9,200, down 2.2% compared to 24 hours ago. The price of Ethereum dropped 2.4%, to nearly 693 USD. Ripple coin price fell 1.3%, to more than 0.79 USD.
* Source: VN Economy