A bittersweet moment hit the crypto industry Wednesday morning. At the start of the week, platforms were alerted that crypto ads on Google were back. Specifically, advertisements for Coinbase. However, this was all speculation, and we even noted that it could be a mistake—and that’s what it was.
The online media giant has confirmed that, no, crypto ads on Google are not back.
Why is this bittersweet? Well, many hoped that Google was following in the lead of Facebook, which lifted rules on the crypto industry. Many disagreed with an industry-wide ban, so when Facebook started showing ads again, crypto enthusiasts were thrilled. Even Brian Armstrong, Coinbase CEO, praised the news.
But at the same time, it’s understandable why Google has kept the crypto ban. You may not think an industry-wide ban is justifiable, but you can’t deny that there are far too many scams online, duping people into sending criminals investment money. Not everyone in the crypto industry is like this, but there’s enough that Google has stood its ground, and, confirmed today with CryptoGround, that crypto ads are still not allowed on its platform, despite Facebook’s actions last week.
Crypto Ads on Google are Not Back: Google Confirms
After Vivek Sancheti of CryptoGround reached out to Google via Twitter on Wednesday, July 25th, the California-based company denied that crypto ads on Google are back.
Ads promoting cryptocurrencies and related content are not allowed to be advertised via Google Ads. Please feel free to reach out if you have additional questions or concerns, Vivek. -Chris
— Google Ads (@GoogleAds) July 25, 2018
It had to be in the back of people’s minds that Coinbase ads appearing on Google was a mistake (it was in ours), considering Google has stayed away from discussing cryptocurrencies, aside from the March announcement that there will be a ban on the ads come June.
But is Google making the right choice? Facebook seems to understand that there is a way to go about crypto ads. According to Facebook’s Rob Leathern, the best way thing to do is to “allow some ads” but work “to ensure that they’re safe,” rather than flat-out banning them.
Not to mention Google is said to be interested in working with Ethereum co-founder Vitalik Buterin. This has caused many to claim that Google has “double standards.”
Sorry to now report that crypto ads on Google are not back, but hey, at least there’s still Facebook!
Featured Image: Twitter
Author: Caroline Harris