Google may be preparing to eliminate cryptocurrency ads
Here's the thing about advertising that most people don't understand: It works.
Everything thinks the ads they see every day don't affect their decision making but they do. One of the reasons people are buying crytpocurrencies, or at least particular crytos or ICOs, is because of advertising.
Recently, Facebook decided to ban crypto ads.
Google hasn't done the same, at least not yet, but they may be quietly laying the groundwork as they get more strict.
Finance Magnates reports that many advertisers have having their ad performance drastically curbed and some are having their accounts suspended. YouTube has also been affected with some crypto channels saying they have been de-monetized or are suddenly performing very poorly.
Finance Magnates reports that Google could simply be acting more strictly on its guidelines for advertising financial services products but it could also be starting to bow to pressure from regulators.
"We have been hearing from our sources, and that is being raised in professional forums as well, is that we are seeing an intentional and gradual effort to restrict crypto ads or to even block them altogether," they report.
Ultimately, any advertising ban won't change the underlying technology and development of the blockchain but it will dampen enthusiasm and investment. It's another headwind for crypto in what's been a tough year already.
