Google to Allow Crypto Ads from January 29
Google, the world’s largest online advertising platform, has announced that it will update its policy on cryptocurrency-related ads, allowing some crypto businesses to advertise on its network from January 29, 2024.
The new policy, which was announced on December 11, 2023, will enable advertisers who offer cryptocurrency exchanges or wallets to target users in the United States, provided that they meet certain requirements and obtain certification from Google.
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What are the requirements for crypto advertisers?
According to Google, advertisers who want to promote cryptocurrency exchanges or wallets must:
Be registered with the Financial Crimes Enforcement Network (FinCEN) as a money services business and with at least one state as a money transmitter; or be a federal or state-chartered bank entity.
Ensure adherence to applicable legal obligations, encompassing both local and regional legal prerequisites, regardless of whether they are at a state or federal level.
All prior cryptocurrency exchange certifications will be revoked on January 29, 2024, and advertisers must request new certification with Google when the application form is published on January 8, 2024.
What are the restrictions for crypto advertisers?
The new policy does not mean that Google will allow all types of crypto-related ads on its platform. The following are still prohibited:
- Ads for initial coin offerings, decentralized finance trading protocols, or otherwise promoting the purchase, sale, or trade of cryptocurrencies or related products.
- Ads for destinations that aggregate or compare issuers of cryptocurrencies or related products.
- Ads for social casino games that reward non-fungible tokens (NFTs).
- Advertisements promoting games that offer players the chance to bet or risk NFTs in return for the possibility of winning tangible assets of real-world significance, such as other NFTs, are prevalent.
- Advertisers who want to run ads that promote gambling-related content that integrate NFTs must comply with the [Gambling and games policy](^2^) and receive the proper Google Ads certification.
Why did Google change its crypto ad policy?
Google’s decision to update its crypto ad policy comes amid the growing popularity and adoption of cryptocurrencies and NFTs, which are digital assets that represent unique ownership of items such as art, music, or collectibles.
Google had previously banned all crypto-related ads in June 2018, citing the potential for consumer harm and fraud. However, it later relaxed its policy in September 2018, allowing regulated crypto exchanges to advertise in the US and Japan. In June 2021, Google further expanded its policy to allow crypto exchanges and wallets to advertise in the US, subject to verification and certification.
The latest policy update reflects Google’s recognition of the evolving and innovative nature of the crypto industry, as well as its desire to provide users with relevant and trustworthy information on crypto products and services.
However, Google also stated that it will continue to monitor the crypto space and update its policies as necessary to protect users and advertisers from potential risks and abuses.
How can I advertise my crypto business on Google?
To advertise your crypto business on Google, you must meet the following requirements:
- Â Be registered with the Financial Crimes Enforcement Network (FinCEN) as a money services business and with at least one state as a money transmitter; or be a federal or state-chartered bank entity.
- Â Ensure adherence to applicable legal obligations, encompassing both local and regional legal prerequisites, regardless of whether they are at the state or federal level.
- Ensure your ads and landing pages comply with all Google Ads policies.
- Â Request new certification from Google when the application form is published on January 8, 2024.
What types of crypto-related ads are still prohibited by Google?
Google still prohibits ads for the following types of crypto-related products and services:
- Platforms that facilitate initial coin offerings, decentralized finance trading protocols, or any other activities that promote the buying, selling, or trading of cryptocurrencies or related products.
- Websites that compile or compare providers of cryptocurrencies or related products.
- Social casino games that reward non-fungible tokens (NFTs).
- Games in which players can place bets or risk NFTs in return for the chance to win something of tangible worth in the real world (which may include other NFTs).
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What is Google’s new crypto ad policy?
Google’s new crypto ad policy, which will take effect on January 29, 2024, will allow some crypto businesses, such as cryptocurrency exchanges or wallets, to advertise on its network in the US, subject to certain requirements and certification from Google.
Why did Google change its crypto ad policy?
Google changed its crypto ad policy to reflect the growing popularity and adoption of cryptocurrencies and NFTs, which are digital assets that represent unique ownership of items such as art, music, or collectibles. Google also wants to provide users with relevant and trustworthy information on crypto products and services, while protecting them from potential risks and abuses.
Where can I find more details about Google’s crypto ad policy?
You can find more details about Google’s crypto ad policy on its Advertising Policies Help page. You can also contact Google’s support team if you have any questions or concerns.