March 2018 saw Google’s announcement of a new policy for a cryptocurrency advertisement ban, banning advertisements that feature “cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice).”
According to Google, the ban was established as a way to help lessen crypto-related crimes and fraudulent activities.
The policy is set to come into effect this month but experts in the industry are starting to speculate that the ad ban was created for more than just to fight crypto crime.
Recently, Google has been showing signs of interest towards the crypto and blockchain industry.
According to the CEO of Blackmore Group, Phillip Nunn, in an interview with The Independent, the crypto ad ban is probably a move to weaken competition when they introduce their own cryptocurrency:
“I suspect the ban has been implemented to fit in with potential plans to introduce their own cryptocurrency to the market in the near future and therefore removing other crypto adverts allows them to do it on their own terms.”
Just last month, Vitalik Buterin, Ethereum Founder, revealed that Google has been trying to recruit him, as reported here.