Google is expanding the scope of its crypto-related advertising policy, the latest in years of back-and-forth from the tech giant.
In a policy statement released on Wednesday, Google said that “[b]Starting August 3rd, advertisers offering US-targeted cryptocurrency exchanges and wallets will be able to advertise these products and services if they meet the following requirements and are Google certified. “
To qualify, exchanges and wallets must “[b]e duly registered with (a) FinCEN as a money services company and with at least one state as a money transmitter; or (b) a federally or state-recognized banking company, “”[c]meet the relevant legal requirements, including all local legal requirements, be it at the state or federal level “and”[e]Make sure your ads and landing pages meet all Google Ads guidelines. “
The new certification process will replace one that has existed for crypto exchanges since the end of 2018.
In March 2018, Google made waves when it banned crypto advertising from its search engine, a move that came after Facebook made a similar policy change earlier this year. In September 2018, however, Google withdrew this strict policy a little so that crypto exchanges can become certified advertisers on the platform for the US and Japanese markets. Elsewhere, critics have long accused Google of failing to adequately address crypto-related advertising fraud.
According to Google’s new statement, it does not allow the promotion of “first-time offers of coins, DeFi trade logs, or any other type of promotion to buy, sell or trade in cryptocurrencies or related products.” Examples cited include “first DEX offers, token liquidity pools, cryptocurrency recommendations from celebrities, non-hosted wallets, unregulated DApps”.
In addition, “ad targets that aggregate or compare issuers of cryptocurrencies or related products” are also not permitted.
“As a reminder, we expect all advertisers to comply with local laws in any territory their ads target. This policy applies to all accounts promoting these financial products worldwide,” concluded Google.