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According to a report by CNBC, the US research giant Google shares the view that the worst could be spent for bitcoins and cryptocurrencies.
Google, which belongs to the Alphabet, joins the Facebook social network by eliminating the ban on cryptocurrency ads starting from October, thus allowing regulated cryptocurrency exchanges to buy commercials in the United States and Japan.
Ben Gomes, Research Manager, speaks at the 20th anniversary of Google Search on September 23, 2018 in San Francisco, California. (Photo of Amy Osborne / AFP / Getty Images)
The decision to ban bitcoin-related ads on the world's largest search engine follows a wave of bullish price forecasts for bitcoin last week.
The ban was originally adopted to allow Google to become familiar with the countless bitcoin scams.
Looking back, Google believes that regulators around the world (especially in the United States and Japan) are making real progress against crypto criminals.
When Google initially banned ads for bitcoin-related services in June, the price of bitcoins dropped by about 10 percent, and bitcoins, as well as most other crypto-currencies, dropped sharply at the start of the year. ;year.
The news has not yet changed the price of bitcoin, which has fallen by 3% over the past 24 hours.
The price of Bitcoin remained unchanged on the news Google will remove the prohibition of ads related to bitcoins.CoinDesk
According to CNBC, commercials for initial coin offerings (ICOs), portfolios and business advice will continue to be banned, with the updated policy applying to advertisers around the world, although ads will only be available for distribution. in the United States and Japan.
"This is a positive step for well-established crypto-currencies such as bitcoin and ethereum," said Chris Wilmer, Bitcoin expert and professor at the Swanson School of Engineering at the University of Pittsburgh.
"Bitcoin is a technological breakthrough, with many applications beyond a new form of money." While platforms such as Google and Facebook must consider false and malicious crypto-currency ads, the simple prohibition of broadcast "Wilmer added.
"The more bitcoin has existed and has continued to grow, despite the predictions of many, the more the world realizes that this technology is important to stay."
In recent months, many of the world's largest banks and financial services companies have been preparing to launch Bitcoin products, including US investment bank giant Goldman Sachs.
With the partial lifting of Google Bitcoin's broadcast ban, this could open the door for these established financial companies to announce their Bitcoin products on the Google platform.
In addition, the owner of the New York Stock Exchange, ICE, plans to launch in November a bitcoin and cryptocurrency platform called Bakkt, in partnership with the coffee chain Starbucks, the software giant Microsoft and Boston Consulting Group. possible.
This reversal should not be a complete surprise either. At the time of the original ban, Google did not rule out the undo, but stated that he wished to proceed with "extreme caution".
"We do not have a crystal ball to know where the future will go with crypto-currencies, but we have seen enough harm or risk to consumers that we want to approach with extreme caution" Spencer told CNBC at the time.
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According to a report by CNBC, the US research giant Google shares the view that the worst could be spent for bitcoins and cryptocurrencies.
Google, which belongs to the Alphabet, joins the Facebook social network by eliminating the ban on cryptocurrency ads starting from October, thus allowing regulated cryptocurrency exchanges to buy commercials in the United States and Japan.
Ben Gomes, Research Manager, speaks at the 20th anniversary of Google Search on September 23, 2018 in San Francisco, California. (Photo of Amy Osborne / AFP / Getty Images)
The decision to ban bitcoin-related ads on the world's largest search engine follows a wave of bullish price forecasts for bitcoin last week.
The ban was originally adopted to allow Google to become familiar with the countless bitcoin scams.
Looking back, Google believes that regulators around the world (especially in the United States and Japan) are making real progress against crypto criminals.
When Google initially banned ads for bitcoin-related services in June, the price of bitcoins dropped by about 10 percent, and bitcoins, as well as most other crypto-currencies, dropped sharply at the start of the year. ;year.
The news has not yet changed the price of bitcoin, which has fallen by 3% over the past 24 hours.
The price of Bitcoin remained unchanged on the news Google will remove the prohibition of ads related to bitcoins.CoinDesk
According to CNBC, commercials for initial coin offerings (ICOs), portfolios and business advice will continue to be banned, with the updated policy applying to advertisers around the world, although ads will only be available for distribution. in the United States and Japan.
"This is a positive step for well-established crypto-currencies such as bitcoin and ethereum," said Chris Wilmer, Bitcoin expert and professor at the Swanson School of Engineering at the University of Pittsburgh.
"Bitcoin is a technological breakthrough, with many applications beyond a new form of money, while platforms such as Google and Facebook have to deal with crypto-currency misrepresentations, the simple" Wilmer added.
"The more bitcoin has existed and has continued to grow, despite the predictions of many, the more the world realizes that this technology is important to stay."
In recent months, many of the world's largest banks and financial services companies have been preparing to launch Bitcoin products, including US investment bank giant Goldman Sachs.
With the partial lifting of Google Bitcoin's broadcast ban, this could open the door for these established financial companies to announce their Bitcoin products on the Google platform.
In addition, the owner of the New York Stock Exchange, ICE, plans to launch in November a bitcoin and cryptocurrency platform called Bakkt, in partnership with the coffee chain Starbucks, the software giant Microsoft and Boston Consulting Group. possible.
This reversal should not be a complete surprise either. At the time of the original ban, Google did not rule out the undo, but stated that he wished to proceed with "extreme caution".
"We do not have a crystal ball to know where the future will go with crypto-currencies, but we have seen enough harm or risk to consumers that we want to approach with extreme caution" Spencer told CNBC at the time.
