Drop in ad views were observed by advertisers using Google Adwords to promote cryptocurrency related business
Google Adwords was used by many advertisers to promote business related cryptocurrency, after seeing a decline in the ad views while other users are posting about the suspension of both their ads and their accounts, as reported by Finance Magnates on March 8.
The table is given below shows views of the company’s advertisements over a 24 hour period.
Finance Magnates has logically specified the fact that crypto-based Adwords are now defined as “limited,” which means that even though they are approved, it will be restricted for specific age groups, regions or devices.
Several companies in the crypto sphere have reported about their ads being suspended which came to notice by a cursory search of the Google Adwords Account Issues section. Some companies also claim that their accounts have got discontinued and terminated.
A user named Anas B wrote that Blockchain technology Development Company’s account was suspended due to “misrepresentation” with scope for restoration.
“I have analyzed the website that is completely, and I couldn’t find any reason that is violating google policies. Our business is “blockchain technology development,” and we provide services in UAE. Please suggest what I have to do in this regard as Google team is not telling exact issue/concern of suspension of our account.”
An inquiry entitled, “Why CryptoCurrency Accounts Block [sic] or Suspended?” where user MosheTLV commented that the reason for this would be because some crypto advertisers are not following Adwords’ Financial Services regulations. User Andrew H posted on a similar thread that crypto related ads may be limited or blocked due to the “very high risk [of crypto investing] for customers, which is not made clear in any detail” in crypto advertisements, which could constitute a violation of the Financial Services regulations.
Facebook officially banned advertisements related to cryptocurrency in January this year, citing “misleading or deceptive promotional practices.”Finance Magnates also got to know through an unnamed source that Google plans to ban cryptocurrency-related advertisements this March officially.
Finance Magnates also stated that a month ago, a Canadian regulator publicly asked Google to commence such a ban, but Google denied it explaining that the company did not want to place a boundary on an entire industry from Google advertising. However, Google Adwords sent an email to Finance Magnates denying any change in their Financial Service regulations which would block cryptocurrency or ICO related advertisements.