Hosted or custodial wallets will be able to advertise on Google services under the new regulation.
Google’s advertising policy has been amended to clarify which bitcoin firms are allowed to advertise on its platform.
Companies that deal in cryptocurrency must be registered
According to a recent statement from Google, crypto exchanges and wallets will be permitted to advertise when they are registered with FinCEN as a Money Services Business or with a chartered bank.
These companies must also follow all state and federal regulations, as well as all Google Ads standards.
When Google publishes its application form in July, the new policy will take effect in August, and existing certificates will be revoked.
Ads promoting ICOs, DeFi platforms, and individual cryptocurrencies will continue to be banned under Google’s new policy. Ads for cryptocurrency aggregators, trading signals, and trading advice will also be prohibited.
Will More Businesses Be Permitted to Advertise?
In March 2018, Google and many other Internet giants, including Facebook and Twitter, prohibited cryptocurrency advertising.
Google eased the restrictions in September 2018, enabling exchanges and mining services to advertise once more.
Today’s news does not necessarily extend the range of businesses that may advertise on Google. Instead, it establishes a more stringent procedure for companies that seek to promote.
On the other hand, the new policy includes hosted wallets (i.e., online or custodial wallets), which were not explicitly addressed in earlier regulations. Advertising is still not allowed in offline wallets.