For the first time in a long while, crypto-related ads would now be allowed by Google after its new ad policy went into effect on August 3.
The internet giant had previously banned crypto adverts plus initial coin offering related advertisements on its platform in 2018. However, the firm recently announced its updated policy which would now allow regulated crypto firms to advertise their service through its network again.
According to available information on Google’s website, “advertisers offering cryptocurrency exchanges and wallets targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google.”
Per the website, would-be advertisers must either be registered with the Financial Crimes Enforcement Network (FinCEN) as a money business or be a federal or state-chartered bank. Not only that, advertisers must also meet certain legal requirements plus their ads must comply with the firm’s ad policy.
Also, ICOs remained frowned at, plus adverts relating to decentralized finance protocols and the promotion of trading crypto. Another banned advertisement is celebrity endorsements of crypto assets. All of these stringent measures are being put in place to protect the users of Google’s services from fraudulent crypto businesses and scams.