Google will allow advertising of cryptocurrency (new policy for crypto exchanges and wallets).
Google is expanding its scopeapplying its advertising policies related to cryptocurrencies, which is the latest innovation in the relationship between the tech giant and the crypto market for many years.
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In a policy statement released Wednesday, Google said that “starting August 3, advertisers offeringCryptocurrency exchanges and wallets targeting the US may advertise these products and services if they meet the following requirements and are certified by Google".
To qualify, exchanges and wallets must be
"duly registered with FinancialCrimes Enforcement Network (FinCEN), as a money services enterprise and in at least one state as a money sender; or a federal or state bank," comply with applicable legal requirements, including any local legal requirements, whether state or federal," and "ensure that their ads and landing pages comply with all Google Ads policies"
The new certification process will replace the one that has existed for crypto exchanges since the end of 2018.
Google made a splash in March 2018 whenbanned cryptocurrency ads on its search engine, a move that followed after Facebook made a similar policy shift earlier that year.
However, in September 2018, Googlehas deviated somewhat from this strict policy, allowing cryptocurrency exchanges to become certified advertisers on the platform for the US and Japanese markets. Elsewhere, critics have long accused Google of inadequately combating cryptocurrency-related ad fraud.
According to a new statement from Google, it will notallow advertising for "initial coin offerings (ICOs), DeFi trading protocols, or otherwise promote the purchase, sale or trade of cryptocurrencies or related products."
Examples cited include "initial DEX offerings, token liquidity pools, well-known cryptocurrency approvals, unallocated wallets, unregulated DApps."
In addition, “destination locations” are also prohibitedadvertisements that combine or compare issuers of cryptocurrencies or related products” so-called “trackers” such as Coincodex, Coingeko, Cryptocompare, Coinmarketcap and other services.
"We remind you that we expect all advertisers towill comply with local laws in whatever area their ads target. This policy will apply worldwide to all accounts that advertise these financial products.", - concluded Google.
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