Google has announced an update to its financial products and services policy, which includes its policy on cryptocurrency advertising. The new rules will take effect in August and all prior crypto exchange certifications will be revoked.
Beginning August 3, advertisers offering cryptocurrency exchanges and wallets targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google.
The company proceeded to explain how advertisers can be certified. Firstly, they must be duly registered with the Financial Crimes Enforcement Network (FinCEN) “as a Money Services Business and with at least one state as a money transmitter.” Alternatively, the advertisers can be “a federal or state chartered bank entity.”
Furthermore, Google noted that the advertisers must meet all relevant legal requirements, including state, local, and federal laws and they must also “Ensure their ads and landing pages comply with all Google Ads policies.”
Some ads are not allowed: ads for initial coin offerings [ICO], Defi trading protocols, or otherwise promoting the purchase, sale, or trade of cryptocurrencies or related products, ad destinations that aggregate or compare issuers of cryptocurrencies or related products.