Google Announces New Ad Policy Related to Cryptocurrencies

Charlie Taylor

With new policies, Google has now clarified what is actually prohibited and what can be ad for cryptocurrencies through Google Ads. According to a recent document, Google will update its financial products and services policy in August to clarify further the cryptocurrency exchanges on all the requirements necessary to allow advertising on the platform. Some of the requirements include being registered with FinCEN, the US Financial Crime Fighting Network, as well as complying with all relevant legal requirements and Google Ads policies .For now, only cryptocurrency exchanges in the US and Japan are allowed to promote their business through Google. However, some restrictions remain for crypto companies that launch ICOs (initial currency offerings), DeFi trading protocols or related products.

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American companies like FTX have been expanding their business through alternative methods and partnerships with large corporations. As reported by CryptoPotato, FTX became the first bitcoin exchange to sponsor US professional basketball team Miami Heat with a $135 million deal. In March 2018, Alphabet – the company behind Google – quoted “ legal issues” that pressured it to implement strict policies against crypto ads. YouTube, a subsidiary of Google, faced a lawsuit in April 2020 for allowing the promotion of scams related to cryptocurrencies. In this period, Google was heavily criticized for banning exchanges and wallet ads, but allowing fraudulent projects to promote their platforms without any restrictions.See also: Ripple sues YouTube for causing "irreparable damage"Errata: We originally posted that Google had removed its 2018 ban on cryptocurrency-related ads, but the total ban had already been lifted in September 2018. Also, not only can US exchanges advertise on Google Ads, it's possible also for Japanese brokers.

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