After the updated financial products and services policy Google is running crypto ads again went into full effect on August 3.
The Tech giant banned crypto and Initial Coin Offering related advertisements back in 2018, and the updated policy now allows regulated crypto entities to market their services once again. Google’s crypto ad policy revision stipulates that “advertisers offering cryptocurrency exchanges and wallets” targeting U.S. consumers are allowed to advertise their services and products if they meet specific requirements.
This step will provide additional sales for Google’s parent company Alphabet, although crypto ads will likely be just a drop in the ocean of the company’s $147 billion in advertising revenue. Google’s strict requirements are designed to weed out shady advertising and blatant crypto scams. Advertisers must be registered with the Financial Crimes Enforcement Network.
The firm will not allow ads for ICOs, DeFi trading protocols or the promotion of purchasing, selling or trading cryptocurrencies. Celebrity crypto endorsements are also banned, which may help in part with issues surrounding fake celebrity endorsements.
Google’s updated policy also bars crypto ads from linking to websites that host “cryptocurrency trading signals, cryptocurrency investment advice, aggregators or affiliate sites containing related content or broker reviews.”
