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Tag: AdWords

  • Google to ban cryptocurrency ads

    Google to ban cryptocurrency ads

    MUMBAI: In a move that will have far-reaching ramifications for speculative trade of digital currencies, technology giant Google has announced that it will prohibit advertisements promoting any kind of cryptocurrency. The move is in sync with Google’s upcoming financial services policy. Such ads will be banned across the tech behehoth’s products

    In a blog post on the company’s website yesterday, Google’s director of sustainable ads Scott Spencer cited the “unregulated” and “speculative” nature of many of the financial products being advertised. 

    Google’s decision mirrors a similar announcement from Facebook earlier this year that reflects a broader push by the advertising giants to rebuild user trust in their platforms. 

    Last year, Google struggled to address advertisers’ concerns that ads were being run alongside objectionable content.

    The ban on crypto-related terms will begin from June this year and will cover search, display and YouTube ads for binary options and synonymous products, cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets and cryptocurrency trading advice). 

    Spencer also stated that the new policy would contain measures to restrict the advertisement of contracts for difference, rolling spot forex and financial spread betting.

    The company further stated that advertisers offering the aforementioned features will be required to be certified by Google before they can advertise through AdWords.

    To be certified by Google, advertisers will need to be licensed by the relevant financial services authority in the country or countries they are targeting; ensure their ads and landing pages comply with all AdWords policies and comply with relevant legal requirements, including those related to complex speculative financial products.

    The company also stated that advertisers can request certification with Google starting March 2018, soon after the application form is published. However, certification will be subject only to select countries.

    Bitcoins and other forms of cryptocurrencies have gained widespread popularity in the recent past. They have, however, been shunned as illegal forms of tender. India’s finance minister Arun Jaitley, in his budget speech for 2018, affirmed that the government would do everything to discontinue the use of bitcoin and other virtual currencies in India. He also pointed out that India did not recognise them as legal tender and would instead encourage blockchain technology in payment systems.

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  • Govt. denies reports of imposition of penalty on Google

    Govt. denies reports of imposition of penalty on Google

    NEW DELHI: The Government today clarified that the Competition Commission of India (CCI) has not imposed any penalty on Google Inc. for allegedly failing to provide information in a probe into its alleged unfair trade practices in India.
     
    It said that media reports on the order of the Commission being stayed by the Delhi High Court are erroneous, since no such penalty (reported by the media as Rs one crore) had been imposed.
     
    The Corporate Affairs Ministry said the Writ Petition No. 7084 of 2014 was filed by Google Inc. with respect to the case No. 06 of 2014 in which CCI has not imposed any penalty and therefore there is no question of stay of penalty.
     
    The case related to issue of confidentiality and an order was passed by the Court after hearing the Counsels of the parties.
     
    Meanwhile, the Court last week restrained the CCI from disclosing any information, considered as confidential by Google Inc, during its probe into a complaint lodged by an entrepreneur who also runs a website.
     
    Justice Vibhu Bakhru in his order also issued notice to CCI and sought its response within four weeks on the plea of Google Inc.
     
    “In the meantime, it is clarified that any information if submitted to CCI as well as to the Director General by the petitioner Google Inc, which the petitioner considers to be confidential, shall not be disclosed to any party and shall be kept strictly confidential,” the court said, and fixed the plea for hearing on 9 March 2015.
     
    Google said that it had challenged the jurisdiction of the CCI in its appeal relating to a complaint filed by entrepreneur Vishal Gupta before the panel.
     
    “The CCI lacks the territorial jurisdiction” and therefore was wrong to order a probe against Google Inc, it said.
     
    Google also said that its action to terminate AdWords account, meant to promote its Remote Tech Support services, of Vishal Gupta/Audney Inc has “no impact on competition in India” and it has “legitimately” been suspended.