Crypto Money Prohibited Ads on Google and Facebook

Throughout 2017 Google has removed 3.2 billion ads that are considered to violate the rules.

Crypto is especially hot Bitcoin currency so the conversation in the world because of its value up and down like a roller coaster. Recently, Google made an important announcement about the fate of crypto money.

On March 14th, via the company's official blog, Google declared that it has updated its policy on ads that are not eligible to appear on their ad platform. Crypto or cryptocurrency currencies, foreign exchange markets, contracts for differences (CFDs), to speculative, and unregulated financial products are all on Google's improper list.

This decision of Google will be effective starting June 2018. Google is one of the technology companies that diligently clean up ads that run on their platforms. In 2017, still referring to the blog, Google has removed 3.2 billion ads that are considered to violate the rules. Google claims, there are 100 haste ads that are deleted every second.

In addition to the content of advertising, Google also do a clean-up on publishers or website owners who are naughty. There are 12K websites kicked out of the AdSense service-service that gives ads for the website in exchange for money. The reason for Google because the websites web violate rules such as copying the content.

Before Google, popular social media platforms like Facebook did it too. Mark Zuckerberg's social media is on the official blog of the company that aired January 31, 2018, stating that they refuse cryptocurrency advertising.

"Ads are misleading and deceptive, have no place on Facebook," firmly announces Facebook.

Apparently not only Google and Facebook is rejecting everything related to crypto currency in their advertising platform. News uploaded Recode mentions there are at least seven companies with nine services that are now rejecting crypto currency ads.

The seven companies are Google (Google and YouTube), Facebook (Facebook and Instagram), Alibaba, Baidu, Tencent, Oath (the company behind Yahoo), and Amazon. Noted, only Twitter Snapchat, and Microsoft still allow crypto currency ads running on their platforms.

Google's decision on Facebook and other platforms would be a major blow the to the world of crypto currency. The reason is simple, Google is the king of internet advertising world. Google's advertising revenue estimate in 2018 reached $ 84.7 billion. Facebook and Instagram are in second position, estimated to scoop up about half of Google's advertising revenue.

Meanwhile, companies that still allow crypto currency-themed ads get only a small portion of advertising cakes on the internet. For example Microsoft, the company is projected to receive only $ 8.2 billion in revenue from advertising. The same thing also happens on Twitter, social media platform logo blue bird is estimated to only miss $ 2.2 billion in revenue from advertising.

Google's glorious achievements and Facebook on ad revenue are directly proportional to the number of their users. Every day there are 3.5 billion searches done by Google. Meanwhile, Facebook has 1.4 billion active users daily per end of last year.

This means that crypto currency themed ads have lost so many advertising opportunities in the presence of so many people around the world.

Why is Crypto Ads Prohibited?

In Indonesia and other countries, the crypto currency is declared illegal as a means of financial transactions. Executive Director of the Communication Department of Bank Indonesia (BI) Agusman has warned all parties not to sell, buy or trade crypto money. Indirectly, Agusman warns of how risky the crypto currency is because consumers have no legal umbrella.

Oscar Darmawan, CEO of Bitcoin Indonesia, in a discussion held by ID Institute in mid-February said the crypto currency should be regulated. It aims to protect consumers.

"Why (crypto or Bitcoin currency) needs regulation? Because we are talking protection to consumers. The regulation speaks when the worst happens, "said Oscar.

This regulatory issue is indeed a specter for crypto currency. The Guardian writes the absence of a legal umbrella so something that attracts the swindlers. Crypted customers can easily lose their wealth.

One of the most risky crypto currency products is ICO aka initial coin offering. The CNET report, the ICO concept is similar to an IPO or an initial public offering in a real stock market. The concept of ICO is as a way of crypto currency startup obtaining capital by selling their crypto currency made.

The crypto currency startup that wants to do ICO, as written by Investopedia, must first create a plan in the whitepaper. It contains what the project is about to run, what it takes, how much money to rely on!