According to anecdotal reports from companies which are participating in the Initial Coin Offerings market, Google is working towards the restriction of the visibility of ICO advertisements on its platform. Facebook recently banned cryptocurrency and Blockchain-related advertisements on its platform. This is considered to be a motive for Google. However, Google has not taken yet an official position on the topic. The expectation rose after the receiving from companies which are running AdWords warning reports for ICO-related AdWord Campaigns.
Significance performance drop has experi9enced several companies that are running Google Adword campaigns related to ICOs. In numbers, over the course of two days, there was a 99% reduction in clicks. In parallel, the companies started to receive limited approval for their campaigns from Google or even some campaigns have already been suspended.
When Jason Roy, a senior investigator at the Manitoba Securities Commission and Chairman of Canada’s Binary Option Task Force openly praise the abovementioned decision of Facebook and indicated the fact that Facebook has request Google to follow the same way, the situation became clearer.
Jason Roy comments:
“My hope is that Google will enact a similar policy, where they specifically name products like binary options, ICOs, and cryptocurrencies.”
Mr. Roy also added to his comments:
“There’s just been an explosion of different ICOs and new tokens and crazy offerings. You’re seeing ICOs that are raising large amounts of money and there’s nothing behind them in certain cases, but members of the public are so hyped they’re throwing money at them.”
Roy explained with a great detail how Canada’s Binary Options Task Force and FBI explained to Facebook the way innocent people become victims of ICOs advertisements o0n Facebook platform.
The authorities and the community are awaiting a response from the world’s largest platform for Internet users.