A decision that is sure to vex many who use cryptocurrencies, and sure to harm Ethereum gambling, is coming into effect. Google has decided to shut down cryptocurrency-related content, and the ban is happening this June.
Google has been sitting on this decision for quite a while. Numerous reports and rumors of cryptos not doing so well have made the internet giant ban all ads promoting initial coin offerings, trading advice, exchange sites, wallets, and so on. The ban also extended to Facebook and Twitter, which will also shut down such content on their pages.
Interestingly enough, the ban was announced all the way back in March. However, Google decided to postpone their final decision until this June. Naturally, the decision created a massive backlash from the crypto community. Ed Cooper, Revolut’s head of mobile, warned that legitimate businesses would be caught in the crossfire. He also suggested that Google should have used a more targeted approach, rather than blanket-banning everything.
Some critics have outright accused Google of foul play. The CEO of Blackmore Group was particularly harsh and stated that Google banned crypto ads because they wanted to launch their own cryptocurrency. He added that Google and Facebook are still advertising gambling sites and the like and that the ban was unfair. He is concerned that Google might be trying to use its massive influence to beat the competition.
Is Google developing a cryptocurrency?
Well, there are a couple of rumors about Google developing their own crypto. Back in March, Google told Business Insider that they were not developing a crypto, but they were researching the blockchain technology. Ethereum’s founder, Vitalik Buterin, then shared an email screenshot from Google’s recruitment department with proof that they were hiring more crypto researchers. Naturally, this spawned more speculations that Google is, indeed, trying to develop a currency.
Nevertheless, the decision still stands. Google will start taking down all crypto-related ads soon, and businesses can’t do anything about it. But what will come of the ban? Well, we don’t know, and it’s too hard to guess, so we’ll just have to wait and see.