Google Inc. is expanding the scope and content of its advertising policies regarding cryptocurrency.
Company published updated policy statement on Wednesdays from 2 June to 3 August; advertisers offering cryptographic exchanges and wallets in the U.S. may advertise such cryptocurrency-related services and products once they have been certified by Google and meet the requirements set forth below.
Encryption changes and wallets must be properly registered FinCEN (Financial Crimes Enforcement Network) as a money service company and registered in at least one state as a money remitter. Alternatively, they may be a state or a federally established banking unit.
Google also stated that advertisers are required to comply with all applicable legal requirements as well as state, local, and federal laws. They must also ensure that their landing pages and ads comply with all of Google’s advertising policies.
However, Google’s new advertising policy does not permit advertisements for the sale, sale, or purchase of DeFi trading protocols, coin promotions, or cryptographic products. The Internet giant also said that ads comparing or compiling providers of cryptographic currency and related products are not allowed.
The new policy also implements a number of advertising bans, including ICO pre-sales or public offerings, cryptocurrency loans, DEX initial offers, branded liquidity pools, celebrity cryptography, unprotected wallets, unregulated Dapps, cryptocurrency trading signals, cryptocurrency signals, cryptocurrency related content or reviews from intermediaries. “
It is important to note that the new cryptocurrency advertising policy will also apply worldwide to all accounts that advertise cryptographic products.
Google revoked the encryption ban
In March 2018, Google updated its financial services policy to completely ban ads related to search engine encryption. Facebook too made such a transfer later by initiating a similar policy change that year. However, Google had decided to partially lift the ban in September 2018 and reopened its advertising doors to regulated cryptocurrency exchange In Japan and the United States.
Although the ban remained primarily in place, cryptocurrency-related companies outside of Japan and the U.S. were still unable to use Google ads.
With no signs of a slowdown in the cryptography industry, Google has finally revised its policy and eventually opens its doors to all krypto advertisers worldwide.
While the ban affected smugglers around the world, Google’s action is helpful in preventing criminals from reaching online consumers through fraudulent and misleading pop-up ads.
The introduction of the new policy suggests that Google now has a unique opportunity to address encryption-related advertising scams.
Image source: Shutterstock