A new crypto ads policy by google was outlined on August 3rd. The world’s largest search engine is once again allowing crypto exchanges and crypto wallet services providers to run advertisements.
Google had previously banned crypto ads on its platform back in June 2018. All Crypto and Initial Coin Offerings-related ads were blocked from the platform. However, now genuine companies with regulated services can market their products on Google. The policy on ICO is not clear yet.
The new financial products and services related policy has gone into effect on August 3rd. It will increase the ad revenue of Google’s parent company, Alphabet. The total revenue of Alphabet already towers at $147 billion.
The policy revision was first outlined in June. It mentioned that the advertisers who target US Consumers with their crypto exchange and wallet services can run ads only if they meet set criteria. The advertisers must be registered with Financial Crimes Enforcement Network as a “money services business and with at least one state as a money transmitter, or a federal or state-chartered bank entity.”
What new Google policy means for crypto?
The cryptocurrency market is expanding at a fast pace. It will not be wrong to say that crypto is the new financial reality. Nonetheless, there are many shady businesses and projects are operating under the aegis of crypto. In order to weed out those projects, Google has a strict ad policy.
Also Read: Amazon Denies the Plan of Supporting Bitcoin
Google will not allow ads from the following categories:
- Crypto Endorsements By Celebrities
- Initial Coin Offerings
- DeFi Trading Protocols
- Promoting the buy, sell, or trade of Coins
Crypto enthusiasts saw the new crypto ads policy by Google as a ‘bullish’ sign.
Online channels have been pushed to devise a policy on crypto-related content with the recent popularity of the crypto industry. TikTok announced a ban on crypto-based promotional content last month.