Google platform will not work with cryptocurrency-related advertisement materials anymore since June, as outlined in the update of its policy published this early morning. This is a major decision that will likely re-shape the market and quite possibly shrink its capitalization for a time period.
Potential positive side of this decision is that many cryptocurrency-related ads are currently not being composed with pure conscience. Many of them are making false promises of revenue. The overall state of the majority of the digital currency-related messages has already likely served as a reason for Facebook, another social media giant, to ban them in January this year.
It is noteworthy that not only cryptocurrency enthusiasts reacted this time, possibly because that news on Google are read by a wider audience than news on cryptocoins. For instance, Michael McFaul, Stanford Professor of Political Science and ex-ambassador of the United States to Russia, has reacted on his Twitter:
Interesting. And people still like to claim that social media platforms don't exercise any editorial policy. https://t.co/kpNJjNgqVi— Michael McFaul (@McFaul) March 14, 2018
Other notable figures have yet to react on this news, as it’s still very recent. And while the advertisement is not banned yet, the search requests for Bitcoin are acting strangely, as recently noted by business outlets. It’s also worth mentioning that someone has discovered that the search requests’ drop sometimes preceded the actual price drop of Bitcoin.