As per the latest reports, Google has announced that it is going to start posting ads for cryptocurrencies through its platform. According to the tech giant, it is doing it because it has made changes and updated its policy surrounding advertisements for cryptocurrencies.
The reports from sources have confirmed that Google has recently gone ahead and updated the “financial products and services” policy. After making the necessary amendments, Google has gone ahead implementing the new policy from Tuesday, August 3, 2021.
Among the majority of the major tech giants, it was Google that had proceeded with the advertisement postings for cryptocurrencies. It was back in June of 2018 when Google had banned the advertisement postings for the initial coin offering (ICO) and cryptocurrencies.
However, the policy has been updated by Google and as a result, the cryptocurrency firms would now be able to post ads for cryptocurrencies. Now, cryptocurrency firms would be able to advertise their products and services to the public with the help of advertisements.
While the tech giant has gone ahead authorizing cryptocurrency firms to post ads for cryptocurrencies, it has not given the go for ICO(s). So far, the initial coin offering has not been authorized by Google, so that particular sector is off the table for now.
It was back in June of 2021 when hints were pointed towards the re-instating of cryptocurrency ads. Finally, the cryptocurrency firms have been given promising news around posting advertisements for cryptocurrencies.
While making the announcement, Google has revealed that it has set some requirements and regulations that the cryptocurrency firms have to adhere to. The firms adhering to such requirements and regulations would be allowed to post advertisements for cryptocurrencies.
If the cryptocurrency firms are able to meet the requirements specified by Google, they will be able to post ads for cryptocurrency wallets and exchanges.
The move made by Google is going to help it generate even more funds and revenue. The revenue generation surge would be apparent from the running quarter but would have its full impact reflected in the next quarter of 2021.
When it comes to Google’s revenues, the highest revenue-generating service is indeed the advertisement sector. The company seems to be generating a tremendous amount of revenue from advertisements. As of now, the average revenue from advertisements has been set to $147 billion by Alphabet, the parent company of Google.
The reason why Google banned cryptocurrency and ICO(s) back in 2018 was because of the scams and fraudulent activities that took place through such postings.
Many complaints were raised by the internet users as they ended up falling prey to such fraudulent advertisements. Later, the regulators had to step in to deal with the situation and Google went ahead with the banning of cryptocurrency ads and ICO(s).