Google has advised all advertisers to comply with the local laws before releasing crypto-related commercials through Google ads.
Crypto advertisers need to be certified by Google before releasing their ads
Photo Credit: Bloomberg
Google, in the midst of ongoing crypto market growth, has announced changes to its advertising policies. The search engine giant has decided to allow crypto coin trusts to display advertisements, but under certain terms and conditions. For years now, promotional content around the crypto sector has met with scrutiny from international governments and tech giants in order to protect the investor community from risking their savings in high-risk digital assets. The lack of regulatory clarity surrounding the crypto industry also kept players away from big ad spaces.
Starting January 29, 2024, advertisers of cryptocurrency coin trusts will be able to market their products to the masses in the US via Google ads. Google has, however, advised all advertisers to comply with the local laws before releasing crypto-related commercials through Google ads, in addition to being certified by Google.
“Advertisers who promote cryptocurrency exchanges or cryptocurrency wallets are allowed to advertise through Google Ads, but they must be certified by Google, and their products must meet all local legal requirements of the country or region they want to get certified for. To be certified, advertisers will have to meet local licensing requirements,” Google explained on its official page outlining advertising policies.
Now, cryptocurrency coin trusts, as explained by Google, are those financial products that let investors trade shares via trusts that hold large pools of digital currencies.
As per this example, Bitcoin and Ether ETFs, that may or may not get approval in the US next year, could be advertised if they get a green light. These ETFs or exchange traded funds let people invest in BTC via traditional market exchanges rather than being limited to cryptocurrency exchanges.
The US Securities and Exchange Commission (SEC) is likely to give its verdict on these ETFs in January 2024 — around the same time that Google is planning to implement changes to its advertising policies.
Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.