As soon as Google announced it would ban all types of electronic money advertising on his platform, the bitcoin price immediately fell 9% in value, falling to less than $ 8,000 / btc.
According to NBC, on March 14, Google said it would ban all electronic advertising related content, including information about the Initial Coin Offering (ICO). Private investment is quite common in electronic money projects, electronic wallet, transaction consultancy.
This means that even companies that provide legitimate electronic currencies will not be able to run ads on any Google products or services.
According to Google’s announcement, Google’s new policy on electronic money advertising will take effect from June 2018.
According to Scott Spencer, Google’s director of advertising, the company is forced to take such cautious measures after noticing significant losses and risks to users from electronic money.
Facebook, the second largest online advertising provider after Google, has also announced a ban on electronic money ads on its platform earlier this year. After Facebook’s announcement, bitcoin also lost 12% of its value.
Some analysts say the ban is positive for electronic money in the long run.