There is further good news for the sector of virtual currency as Google has made the move of reversing the blanket ban that it had issued against the ads related to cryptocurrency. However, the ban is not completely lifted, there are only certain kinds of ads that are permitted by Google. This ban was put in June, however, lately, Google has decided to allow certain kinds of exchanges, which are regulated appropriately to but ads in the countries of Japan and America. This decision of Google was being pondered upon in the month of March, a major reason for taking this decision had been to see to it that consumers are protected from any activities that are hazardous to their economic well-being.
It is needless to mention that for the longest period of time, the sector of cryptocurrency has been responsible for considerable excitement in the sector, however, it has also come to be noticed that virtual currency is responsible for the creation of anxiety due to its arbitrary nature. Moreover, even as struggles are going on to see to it that regulations in the sector are placed so as to combat the miscreants using virtual currency to hoodwink people out of their money, as it turns out, new developments are taking place every day that make this task more difficult. Even as various regulators are making attempts to ensure that there is a decrease in theft through the means of cryptocurrency, the number of hacks that have taken place stand to suggest that they have not been very successful. It is for all these reasons that Google had issued a complete ban on any kind of advertising in the field of virtual currency. However, from the month of October, some kinds of ads will be allowed by Google.
The authorities in Google have also stated that when it comes to the sector of digital currency, they are going to be immensely cautious and that they would see to it that consumers do not face the economic damage due to these ads. Moreover, it is not just Google, several social networking sites such as Facebook had also taken action against the advertising of cryptocurrency, however, Facebook is also allowing preapproved ads on its platform lately.
Google lifting the ban on the ads of the virtual currency will play an important role in the manner in which the future of cryptocurrency gets shaped.