Google has made a statement outlining that it will soon be moving ahead to change its financial product policy. A person familiar with the matter but who wanted his identity shielded because the matter is not yet official disclosed that the move might be executed somewhere any time from now.
But how will matters look like any way. It is a question that a lot of people have continuously asked and it is simple-it will be about ensuring that a ban is placed on all forms of advertisements related to cryptocurrency.
The company in its latest statement spoke profoundly on the matter disclosing that it was going to try its level best to make changes to the existing financial product restriction. However, he outlined that it had committed itself but the future wasn’t something they could tie themselves down to since a lot of factors could come into play in between.
There will definitely be the blacklisting of ad content which will include but won’t be limited to the initial coin offerings (ICO), cryptocurrency trading advice, cryptocurrency wallets and the cryptocurrency exchanges.
The blog outlined that the restriction was going to be applicable to both Google’s affiliated and proprietary advertisement platforms. It is a move pulling along in less than a month’s time from the moment Facebook proceeded to make the announcement about its plan to enforce an almost similar policy. The social media guru had its eye set on banning all forms of advertisements involving the initial coin offerings and bitcoin in a bid to prevent cryptocurrency-related promotions which it deemed would be deceiving a large section of the investors.
A market analysts following closely on the most recent moves revealed that Google hadn’t yet given an elaborate explanation regarding the finer details that triggered it to place the ban. This is happening at a time when the various regulators in the U.S are doing all within their means to stage a fight against those dubious crptocurrency projects that have been touting for unrealistic investment opportunities and duping investors online.
A number of the U.S regulators are aware of the bad practices and are making moves to deal with the dubious activities.