Google Reintroduces Crypto Ads in the US, Blacklists DeFi and ICOs

Syed AhadWeb Editor

04th Aug, 2021. 09:02 pm
Google

The financial products and services of Google’s advertising policy have been changed, allowing advertisers to run bitcoin ads again as of  Tuesday.

However, the search engine giant has placed severe restrictions on cryptocurrency marketing.

Ads targeting US customers must be from regulated crypto firms, which must be registered with FinCEN as a Money Services Business and at least one state as a money transmitter, or a federal or state-chartered bank entity.

“The cryptocurrency products and services may only be advertised if the advertiser is a licensed provider, the products and ads comply with local laws and industry standards, and the account is certified by Google,” the policy page states.

In June 2018, Google banned advertising for initial coin offerings (ICOs) and other crypto products and services. Despite the company’s recent policy change, ICO advertising, as well as “DeFi trading protocols, or otherwise promoting the buying, sell, or trade of cryptocurrencies or related products,” are still prohibited.

It will also prohibit ad destinations from aggregating or comparing cryptocurrency or related product issuers.

Google’s financial ad policy was updated for the first time in June.

Google has the world’s largest advertising network, with advertisements showing on its search page, websites that use Google Adsense, and all of the company’s other platforms.

Due to the severe limitations, the partial lifting of the advertising ban is viewed as a positive indication by Bitcoin social media users.

Other social media companies, on the other hand, have outlawed paid marketing of bitcoin and other unsafe financial items.

Last month, Tiktok, a mobile-based video-sharing network with over a billion users worldwide, changed its branded content policy, preventing users from posting any promotional content related to cryptocurrencies and forex trading goods.

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