Google has confirmed it’s updating its advertising policy for crypto-related products and services, including exchanges and wallets.
Google and Facebook represent the dominating forces in online ad marketing. Both of them have banned crypto ads in 2018, but some restrictions have been eased since then.
Now companies are allowed to place ads for crypto exchanges on Google in Japan and the US as long as “the products and ads comply with local laws and industry standards, and the account is certified by Google.”
Google has decided to expand the criteria for certification.
In order to place an ad for a crypto exchange or wallet on Google, the company must be registered with FinCEN as a Money Service Business and with one state as a money transmitter; it can also just be registered with a “federal or state-chartered bank entity.”
Businesses must also “comply with relevant legal requirements, including any local legal requirements, whether at a state or federal level,” and “ensure their ads and landing pages comply with all Google Ads policies.”
Google has also decided to ban any ads for DeFi protocols or ICOs, plus other DeFi-related features, such as token liquidity pools, crypto loans, unhosted wallets, or “unregulated DApps.”
Crypto exchanges that have a Google certificate under the current rules are asked to re-apply for certification by July as the new rules will go into effect on August 3rd.
Source: Decrypt.co