Google reverses ban on cryptocurrency ads

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The ban that Google had on cryptocurrency ads is being lifted, albeit partly. Cryptocurrency exchanges will be able to buy ads on the network, but they'll only be visible in the United States and Japan. Advertising ICOs (Initial Coin Offerings), wallets and trading advice is still not permitted on the network.

The new policy is kicking off in October.

Cryptocurrencies and the world of blockchain is a young, but booming industry. And whenever there's money involved, and regulation scarce, there is bound to be fraud and scams.

Google had originally banned crypto adverts on its network to protect its users from potential harm. Back in March, when the ban was first announced, Google's Scott Spencer told CNBC the company wanted to be extra careful:

"We don't have a crystal ball to know where the future is going to go with cryptocurrencies, but we've seen enough consumer harm or potential for consumer harm that it's an area that we want to approach with extreme caution," he said back then.

The ban was announced in March and rolled out in June.

Google is not the only large internet company that approaced crypto tentatively. Google, Facebook, Twitter and Snap all imposed some forms of restrictions against advertising cryptocurrencies to stop potential fraud and scammers.

Even though the new policy will apply to all advertisers, regardless of their location, the ads will be visible only in the US and Japan. If you're interested in getting your ad on Google, you'll need to apply for certification for each individual country.

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