Crypto exchanges and wallet providers can now advertise their products and services on Google as the company’s new policy comes into effect.
Crypto exchanges and wallet service providers can now start advertising their products and services on Google as long as they meet certain guidelines. Google’s new policy on financial products and services, first published in June, came into effect on August 3, reversing the ban on crypto-related ads on its platform. Google first announced that it would allow such ads if the entities in question had registered with FinCEN.
Companies that deal in cryptocurrency must register with FinCEN and follow Google’s standards
By sticking to the August 3 date set in the initial statement, the company kept its word. Crypto enterprises must meet legal requirements and Google Ads standards, whether at the state or federal level. However, there are some restrictions on the type of crypto-related information that can be advertised. ICOs, IDOs, loans, token liquidity pools, celebrity cryptocurrency endorsements, unhosted wallets, and unregulated, decentralized apps (dApps) are all prohibited from being marketed on Google.
Tech behemoths may reconsider their attitude on cryptocurrencies
Big internet companies have been wary about crypto because they accidentally play a large role in the market, exposing ideas and projects – as well as scams. As a result, several tech behemoths have been obliged to prohibit the distribution of cryptocurrency-related content. This content frequently deals with topics that directly support the concept of profit. However, as regulators weigh in on the market, other tech firms will begin to reassess their crypto approach after Google’s current rules. There is plenty of evidence that US authorities are working on a regulatory framework that could impact crypto exposure in the future.