Google re-runs crypto ads with new policy effect

Google re-runs crypto ads with new policy effect

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2021-08-03 21:26:30

Under a new Google policy that went into effect on August 3, advertisers that offer wallet services and cryptocurrency exchanges are once again allowed to market their products.

Google re-runs crypto ads with new policy effect

The search giant banned crypto-related ads and released ICOs in June 2018. However, Google is running crypto ads again after an updated policy on products and services. financials effective August 3.

Google’s crypto advertising policy revision was first outlined in June and stipulates that advertisers offering crypto wallets and exchanges targeting US consumers are allowed. advertise their services and products if they meet specific requirements.

The move will bring in additional sales for Alphabet, Google’s parent company, although cryptocurrency advertising will likely be just a drop in the whopping $147 billion in ad revenue. of the company.

Google’s strict requirements are designed to weed out shady ads and cryptocurrency scams. Advertisers must be registered with the Financial Crimes Enforcement Network (FinCEN) as a money services business and have at least one state as a money transmitter or authorized banking entity. federal or state operating.

Along with that, the company will not allow advertising for ICOs, DeFi trading protocols or advertising buying and selling cryptocurrency exchanges. Celebrities are also banned, which could help partially solve the problems surrounding fake celebrity endorsements.

Similarly, last month, TikTok announced a ban on all types of cryptocurrency content as part of a move to block all financial services and products from being advertised on the platform.

Google’s updated policy also prevents cryptocurrency ads from linking to sites hosting trading signals, investment advice, aggregator sites, or affiliate sites that contain relevant content or reviews. broker price.

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