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September 26, 2018 @ 10:24 +03:00
Google, the $828 billion search engine behemoth, has unbanned crypto-related ads, allowing regulated companies to utilize its platform to advertise their products. In March, Google executive Scott Spencer stated that cryptocurrency investments have potential to cause harm in financial markets, leading the search giant to ban crypto ads. The reverse ban of crypto-related ads by Google has demonstrated the willingness of the conglomerate to work with legitimate projects and companies in the cryptocurrency sector.
As Ethereum co-creator Vitalik Buterin previously explained, cryptocurrencies and blockchain technology have achieved a high level of awareness amongst consumers in the mainstream. But, as an industry in its early phase, development of robust infrastructure is necessary to allow cryptocurrencies and digital assets to evolve into a major asset class.
A blanket ban on the entire sector of crypto prevented recognized and prominent companies in the space from expanding their services, reach, and user base. The reverse ban of Google will allow institutions and individual investors in the market to build confidence in the market of crypto.
Starting October, only verified companies in the crypto sector of US and Japan will be able to purchase ads on Google. But, companies will be permitted to file applications with Google to publish ads in other countries as well, which over time is expected to evolve into an international reverse ban on crypto ads.