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Thursday, June 30, 2022

Google Announces Updates in its Cryptocurrency Ad Policy

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Google disclosed the new changes in its cryptocurrency ad policy. The tech giant has revealed that it has decided to adopt a new ad policy for cryptocurrency industry advertisers in the US. As per the new update shared by Google, cryptocurrency exchanges and wallets that wish to advertise to the US via Google will be able to advertise starting with August 3. They will commence advertising but after the fulfillment of certain conditions.

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Furthermore, Cryptocurrency services that are planning to advertise with Google in the U.S. have to be registered with FinCEN as an MSB. Moreover, there is a requirement that they should own a money transmitter license in at least one state. Cryptocurrency wallet and exchange firms will also be able to advertise if they are a “federal or state-chartered bank entity”.

In addition to this, not all cryptocurrency-related advertisements will be permitted by Google. ICOs or other types of token sales, non-custodial wallets, and non-regulated decentralized applications will not be permitted to advertise. Aggregators, trading signals, and affiliate sites associated with cryptocurrency are also not permitted to promote with Google.

Earlier, in 2018, Google had put a ban on cryptocurrency advertisements. Later in the year, the firm adopted a more nuanced policy. It started to permit cryptocurrency businesses to advertise in the U.S. and Japanese markets if they became certified with Google. Google is not alone in the implementation of the banning policy. Earlier, Twitter, Facebook, and Bing have also put a ban on cryptocurrency advertising.

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