Google and Facebook banned Cryptocurrency Ads

The decision of Google and Facebook to prohibit advertising of cryptocurrency projects is due to plans to create their own cryptocurrency.

This opinion is expressed in the article of the British edition of The Independent. The ban on crypto advertising in Google came into effect on June 1 and concerns a wide range of topics, including ICO, as well as the work of crypto-exchange exchanges and wallets.

In addition, advertising of advice on conducting trade is forbidden. Previously, similar bans were announced on Facebook and Twitter. However, at the same time, both Google and Facebook are expressing interest in cryptocurrencies and blockchain projects in general. This suggests that the purpose of the ban is not only to resist the work of criminal schemes in the crypto industry.

“I understand that Facebook and Google have to regulate the flow of information that comes to their users. However, they continue to advertise sites related to gambling and other unethical activities”, said Blackmore Group CEO Philip Nunn. “I think the ban was introduced in connection with plans to create its own cryptocurrency in the near future. The ban on advertising of other cryptocurrency projects allows you to enter the market on your own terms.”

According to Ed Cooper, head of the mobile payments direction of the Revolut startup, the main disadvantage of the ban is its comprehensive nature.

“The comprehensive nature of the ban means that law-abiding cryptocurrency projects that provide important services to users are unfairly caught in crossfire,” Cooper said.” A more selective approach would be preferable.

In March, a Google representative told Business Insider that the company was researching the potential use of blocking technology. In May, information appeared that Google applied for a job with Vitalik Buterin, the creator of Ethereum. Buterin reported this on his page on Twitter but later removed the post. In May, David Marcus, who previously headed Facebook Messenger, said that he would study the potential use of the Blockchain on Facebook.