It would appear U.S. search giant Google shares the opinion that the worst could be over for bitcoin and cryptocurrencies and has decided to un-ban bitcoin ads, according to a CNBC report.
The Alphabet-owned Google is joining social network Facebook in scrapping a ban on advertisements for cryptocurrencies from October — allowing regulated cryptocurrency exchanges to buy ads in the U.S. and Japan.
The decision to un-ban bitcoin-related ads on the world’s biggest search engine comes after a wave of bullish predictions for the bitcoin price last week.
The ban was originally adopted as a way for Google to get a handle on the countless high-profile scams bitcoin’s sudden surge in value created.
The roll back suggests Google believes that regulators around the world (especially in the U.S. and Japan) are making real progress against the crypto criminals.
When Google initially banned ads for bitcoin-related services in June it sent the price of bitcoin down by some 10% and bitcoin, as well as most other major cryptocurrencies, are far down from their all-time highs at the beginning of the year.