By Steve Dellar   |  03-14-2018   News
Photo credit: Dreamstime

Google just put the nail in Bitcoin’s coffin when it comes to advertising sort of speak by banning crypto-currency advertising from any of its platforms. As a result, any promotional campaigns for initial coin offerings, Bitcoin exchanges, digital wallets to store the assets and trading advice would no longer be offered.

According to the world’s biggest search engine, the new policy will be implemented as from June 2018.

The value of Bitcoin, Ethereum and Ripple all dipped after the news came out.

Facebook launched a similar decision a while ago after which the values of the different crypto-currencies also took a hit.

Related coverage:

The move by Google is subsequent to a report by the International Monetary Fund's managing director Ms Christine Lagarde. She has warned that: "Money laundering and terrorist financing is only one dimension of the threat."

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">IMF chief Christine Lagarde wants to &quot;fight fire with fire&quot; in using crypto to fight money laundering. <a href=""></a></p>&mdash; Axios (@axios) <a href="">March 13, 2018</a></blockquote>

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"The rapid growth of crypto-assets, the extreme volatility in their traded prices, and their ill-defined connections to the traditional financial world could easily create new vulnerabilities.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr"><a href=";ref_src=twsrc%5Etfw">#IMF</a> Chief Christine <a href="">@Lagarde</a> believes crypto markets must be regulated, giving customers same protections they enjoy in traditional markets. <a href=""></a></p>&mdash; Cointelegraph — Bitcoin and Cryptocurrency News (@Cointelegraph) <a href="">March 13, 2018</a></blockquote>

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"We must welcome their potential but also recognise their risks."

As it is an official warning by the head of the IMF, companies like Google are, due to their size and importance in the stock market, forced to act.

At the time of writing, Bitcoin, the best known of all crypto currencies, was trading at $8,600.


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