In the first quarter of this year, two major social media giants and the world’s largest search engine; Facebook, Twitter, and Google decided to ban cryptocurrency related advertisements because they were too misleading.
The companies, all consecutively citing changes in their advertising policies called for a ban on all cryptocurrency related advertising, including the promotion of Initial Coin Offerings (ICOs), trade recommendations, etc. This meant, three of the most used advertising avenues for companies across industries was effectively unavailable to the crypto industry. The community reacted in different ways, some sued, others coped and the rest went about their lives.
But four months on, has Google started to rethink this policy? Reddit sure thinks so.
A user with the username u/thekcoinz posted this image last night on his feed, saying that Google brought back Coinbase’s bitcoin ad.
Incidentally, less than a month ago on the 27th of June, Facebook decided to reverse their cryptocurrency advertising ban by, once again, rewriting their policies on the advertising of volatile financial products.
This coincidence has not gone unnoticed by fellow Reddit users, as they were the first to point out that maybe the move is a follow-suit to get in line with the precedent set by Facebook.
The change in Facebook’s policy about this type of advertising was received by the cryptocurrency community and market as a restoration of faith to the space as it got back one of its largest advertising avenues back. However, while the ban on the advertising of cryptocurrencies has been reversed, Facebook will still not be advertising ICOs.
Reactions of the Community
While a lot of people expressed happiness of the return of Google’s support of the cryptocurrency market, there are still a whole bunch of people who remain skeptical about this. A lot of people coming up with out-there theories of backdoor deals between Coinbase and Google, the next bitcoin bull and what not.
Here are a few;
No Official Statement
Although there is a lot of buzz going on about the possible return of Google’s ad space for the cryptocurrency market and community; there has been no official intimation or statement from the company or any of its officials.
When Facebook reversed its ad-ban, the company released a proper statement stating so much. And if the news of the ban reversal is true in the case of Google, a statement over the next couple of days can be expected from the world’s largest search engine.
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