Industry Concerns New Policy Implementation after Google Lifting the Ban on Crypto Advertisements
Crypto experts welcome the recent lifting of cryptocurrency advertisements in general from Google. Yet, industrial leaders still concern their interest in practice could be undermined by the new policy.
This week’s latest implementation of lifting the ban on crypto-related advertisements is due to an updated policy statement published by Google in June.
Experts believe Google’s updated policies on crypto ads mark another step forward for Fintech. Reportedly, Bitcoin is gaining 100-150 thousand new users daily, some voice believes that the tech industry is becoming bullish that lead to the perception of stigma lesser associated with digital assets.
Lucia Della Ventura, PhD researcher on Decentralised AI at Trinity College Dublin and Legal & Compliance Manager at treasury technology specialist Ledgermatic, said the new policy could “give crypto firms have more opportunities to promote their services under an already regulated space.”
However, industry leaders like Ruud Feltkamp, CEO of automated trading bot Cryptohopper, think that they are not beneficial from the recent lifting, as the new policy of crypto exchange and wallets only target the market in the United States.:
“It’s great to hear that Google is getting less tough on crypto companies. However, we still are banned from advertising, even though we’re a legitimate company with a popular product. I think that Google should look critically at this and not blindly ban everything that is not a crypto exchange. So many companies in the market are unable to advertise, even though some offer wonderful products. I don’t think this is fair.”
In addition, analysis convinces that banning the ads for ICOs aligns with the current lack of a cohesive regulatory framework. ICO is one of the main subjects of discussion in the blockchain sector. “This choice highlights Google’s awareness of this legal vacuum without giving up offering its ads services. This is also an excellent data capture opportunity. That data set will be invaluable to crypto companies,” Ventura added.
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