Crypto money is prohibited from advertising on Google and Facebook
By: Ahmad Zaenudin - March 21, 2018 Normal reading 2 minutes
Throughout 2017 Google has removed 3.2 billion advertisements that are considered to violate the rules.
tirto.id - Crypto currencies, especially Bitcoin, have become a hot topic in the world because the value goes up and down like a roller coaster. Recently, Google made an important announcement about the fate of crypto money.
On March 14, through the company's official blog, Google said it had updated its policy on ads that were not eligible to appear on their advertising platforms. Crypto or cryptocurrency, foreign exchange markets, contracts for difference (CFD), to speculative financial products, and no legal umbrella are all on the list not eligible to appear on Google.
Google's decision will be effective from June 2018. Google is one of the technology companies that diligently clean ads that appear on their platforms. In 2017, still referring to the blog, Google has removed 3.2 billion ads that are considered to violate the rules. Google claims, there are 100 rush ads deleted every second.
In addition to the matter of advertising content, Google also clean up publishers or website owners who are naughty. There are 12 thousand websites kicked in from the AdSense service — a service that gives advertisements for websites in return for money. The reason for Google is because the websites violate rules such as copying content.
Before Google, popular social media platforms like Facebook also did it. Mark Zuckerberg's artificial social media on the official blog of the company that aired on January 31, 2018, stated firmly that they refused crypto currency advertisements.
"Advertising is misleading and deceptive, has no place on Facebook," Facebook announced firmly.
Apparently not only Google and Facebook reject all matters related to crypto currencies on their advertising platforms. The news uploaded by Recode said there were at least seven companies with nine services that now refused crypto currency advertisements.
Google's decision will be effective from June 2018. Google is one of the technology companies that constantly clean ads that appear on their platforms. In 2017, still referring to the blog, Google has removed 3.2 billion ads that are considered to violate the rules. Google claims, there are 100 rush ads deleted every second.
In addition to the matter of advertising content, Google also clean up publishers or website owners who are naughty. There are 12 thousand websites kicking in from the AdSense service - a service that gives advertisements for websites in return for money. The reason for Google is because the violate rules website is as copying content.
Before Google, popular social media platforms like Facebook also did it. Mark Zuckerberg's artificial social media on the official blog of the company that aired on January 31, 2018, stated firmly that they refused to crypto currency advertisements.
"Advertising is misleading and deceptive, has no place on Facebook," Facebook announced firmly.
Apparently not only Google rejects all issues related to cryptography on their advertising platforms. The news uploaded by Recode said there were at least seven companies with nine services that now refuses to crypto currency advertisements.
Why are Crypto Ads Banned?
In Indonesia and other countries, crypto currencies are declared illegal as a means of financial transactions. Executive Director of the Bank Indonesia Communication Department (BI) Agusman once warned all parties not to sell, buy or trade crypto money. Indirectly, Agusman warned of the risk of crypto currencies because of consumers because there is no legal umbrella.
Oscar Darmawan, CEO of Bitcoin Indonesia, in a discussion event held by ID Institute in mid-February, said that crypto currencies should indeed be made a regulation. This aims to protect consumers.
"Why do crypto or Bitcoin currencies need regulation? Because we are talking about protecting consumers. The regulation speaks when the worst thing happens, "said Oscar.
This regulatory issue is indeed a scourge for crypto currencies. The Guardian writes the absence of a legal umbrella is something that attracts the cheats. Consumers who are attracted to crypto currencies can easily lose their wealth.
One of the risky crypto currency products is ICO, aka initial coin offering. The CNet report, the ICO concept is similar to an IPO or an initial public offering on a real stock market. The concept of ICO is as a crypto currency startup method to obtain capital by selling their crypto currency.
Crypto currency startups that want to do an ICO, as Investopedia writes, must first make a plan in the whitepaper. It contains the project what to do, what is needed, how much money must be collected, details of virtual tokens, to other things.
Forbes reports that up to 2017 there were 706 ICOs that had taken place in the world. The amount was successful in attracting funds of $ 4.9 billion.
Unfortunately, ICOs have a big risk, namely the absence of an investment guarantee institution provided by the customer. In the IPO, or the sale of shares in general, investors are protected by institutions that are in fact serving as guarantor.
High risk for crypto currencies and the type has become a concern for Google and Facebook. Both of these popular platforms do not want their users to be bothered from advertisements that appear on them. Crypto money is clearly full of risk and is still in the gray zone.
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(tirto.id - Technology)
Reporter: Ahmad Zaenudin
Author: Ahmad Zaenudin
Editor: Suhendra
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