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Google Relaxes Restrictions on Some Cryptocurrency Ads After Three-Year Ban

Google Relaxes Restrictions on Some Cryptocurrency Ads After Three-Year Ban


Google is lifting a three-year ban on certain advertisements that promote cryptocurrencies, such as Bitcoin (BTC), and crypto-related products and services.

In June of 2018, the tech giant restricted advertisements for initial coin offerings (ICOs), digital asset exchanges, crypto exchange wallets and other crypto-related content.

 

Google now says it allows advertisers to promote crypto-related businesses and services, as long as the advertisers meet certain conditions.

An advertiser that promotes cryptocurrency exchanges and wallets for the US market on Google must be registered with FinCEN as a Money Services Business and with at least one state as a money transmitter, or it must be a federal or state-chartered bank entity, according to Google’s updated policy.

Advertisers must comply with relevant legal requirements and must not violate Google Ads policies. Additionally, they must be certified by Google.

“All prior Cryptocurrency Exchange certifications will be revoked on August 3, 2021. Advertisers must request new Cryptocurrency Exchanges and Wallets certification with Google when the application form is published on July 8, 2021.”

Advertisements for ICOs and decentralized finance (DeFi) trading protocols remain off limits, according to Google.

Google also bars advertisements that promote the purchase, sale, or trade of cryptocurrencies and related products, including cryptocurrency loans, initial decentralized exchange (DEX) offerings, token liquidity pools, celebrity cryptocurrency endorsements, unhosted wallets and unregulated decentralized applications (DApps). 

According to Google, landing pages that aggregate or compare issuers of cryptocurrencies and related products, including those that provide broker reviews and investment advice, are also not allowed.

Google says that the updated terms apply globally. The company also tells advertisers to comply with the local laws of the areas targeted by their advertisements. 

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Featured Image: Shutterstock/Ridha JAROU





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