According to some informal reports of companies managing the initial coin offering (ICO) industry, Google has been taking firm measures to restrain the public eye on ICO advertising. After Facebook banned crypto ads, Google is apparently following a similar path. Advertisers using Google Ads are reporting difficulty in advertising cryptocurrency and blockchain-oriented products.
Although, Google has not officially made any change in the policies related to cryptocurrencies and ICO’s, but the concerned companies attribute the news to the fact that there has been a significant drop in the performance of the ad campaigns being run on Google.
An anonymous marketing firm specializing in ICO even handed over its performance sheets to a news blog as a part of the evidence related to the same news which display a 99% performance reduction in a matter of days. This change in numbers coincided with cryptocurrency-related adverts beginning to be defined as “limited” upon submission.
The notion of banning crypto ads from Google was raised a month ago by a Canadian regulator. Jason Roy, a senior investigator at the Manitoba Securities Commission in Canada, who openly turned to Google and asked it to follow Facebook’s lead.
Roy said,
“What happened is that Canada’s Binary Options Task Force, as well as the FBI, explained to Facebook what the concerns were and that these types of ads are leading to people becoming victims. We’ve been talking to Google and had similar discussions and are waiting for them to take similar action, My hope is that Google will enact a similar policy, where they specifically name products like binary options, ICOs, and cryptocurrencies.”
Back then, the request was declined. Google explained that while it already bans misleading and fraudulent ads, it doesn’t want to prevent the entire industry from advertising on its platform. Right now it seems that it might have changed its mind.
What if Google does bans ICO and Crypto Ads? Share your views in our comments section below.
Also if google bans ICO ads and as Facebook have already banned it, here are some of the marketing strategies suggested to ICO companies.
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