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, which was 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.
Crypto companies need to be registered with FinCEN and comply with Google policies.
The firm made good on its promise by sticking to the August 3 deadline mentioned in the initial announcement. Crypto companies must also follow legal requirements and comply with Google Ads policies, whether at the state or federal level. However, there are still some limitations imposed on the kind of crypto-related matters that can be advertised. Google prohibits ICOs, IDOs, loans, token liquidity pools, celebrity cryptocurrency endorsements, unhosted wallets, and unregulated, decentralized apps (dApps) to be advertised.
Tech giants may rethink their stance on cryptocurrencies.
Big tech firms have remained cautious with crypto, as they inadvertently play influential big roles in the market, granting exposure to ideas and projects — as well as scams. Several tech giants have been forced to ban crypto content. This content often has to do with matters that directly promote the idea of making a profit. However, after Google’s latest policies, other tech firms will begin to rethink their crypto approach as regulators weigh in on the market. There is ample evidence that U.S. authorities are working on a regulatory framework, which could affect the exposure of crypto going forward.