Google AdWords Suspending Crypto Ad Accounts
Cointelegraph reported that advertisers promoting their crypto related businesses on Google’s AdWords saw either a drop in ad views, a suspension of their ads and in some cases a termination of their accounts.
Data was provided anonymously by an ICO Marketing Company to online news agency Finance Magnates, showing how views and click on its crypto ads had nosedived to zero.
Finance Magnates attributed this drop in viewership could be because certain types of crypto related ads have now been classified as Limited by AdWords. This means that these ads, while approved by Google, would not be displayed in certain regions, age groups as well as devices.
Users’ Comments about the Impact on their Accounts.
A basic search of the Google AdWords Accounts Issues tab revealed several posts by users from the crypto industry having complained about their accounts being suspended or terminated.
One AdWords user – anas b – reported that her company’s account with AdWords had been terminated with no chance of reinstatement; her company is a blockchain technology development startup and provides services in UAE. The account, according to the reason given by Google AdWords, was terminated due to “misrepresentation”.
There are now multiple threads asking why Google AdWords accounts are being suspended or terminated. User MosheTLV responded to one of these threads that these suspensions and terminations could be due to the fact that many crypto advertisers were not adhering to Google’s Financial Services agreement.
Andrew H, responded to another thread that certain crypto ads would have been blocked as they posed an extremely high risk to customers investing in cryptocurrencies and that that risk factor had not been highlighted in their ads.
The Future of Crypto Ads in Jeopardy?
Facebook officially banned crypto related ads from January this year, saying that they were either “misleading or deceptive”. An anonymous source told Financial Magnates that Google was also considering officially banning crypto related ads from March onwards.
Finance Magnates also reported that a Canadian regulator has blatantly asked Google to ban cryptocurrency and ICO related ads, however, the search giant has refused, stating that the company did not want to restrict an entire industry from advertising.
Google AdWords, in an official email statement to Financial Magnates, denied having made any changes to its Financial Services regulations which would cause any suspension or terminations of crypto or ICO related ads.