Google Just Announced New Terms for Crypto Businesses – This Is What They Must Do Starting Next Month

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Google Just Announced New Terms for Crypto Businesses – This Is What They Must Do Starting Next Month

Online tech giant Google is lifting a nearly three-year-old ban on advertisements for crypto-related products.

Google has updated its support page, announcing a new policy on how it will handle advertising for cryptocurrency exchanges and wallets in the United States.

“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.”

With the application opening in July, crypto companies can get certified if they comply with Google’s legal requirements and are registered with FinCEN as a money services business and with at least one state as a money transmitter or a federal or state-chartered bank entity. 

In addition to setting new guidelines, Google also revoked all certifications that were awarded prior to the policy update. 

“All prior Cryptocurrency Exchange certifications will be revoked on August 3, 2021. Advertisers must request new Cryptocurrency Exchanges and Wallets certification with Google when the application form is published on July 8, 2021.”

This policy update comes three years after Google initially announced its crackdown on crypto advertisers in March 2018. The ban, which took effect in June of that year, prevented advertisers from promoting crypto-related products, including, but not limited to, initial coin offerings, exchanges and wallets, and trading advice. 

Although Google is easing up on cryptocurrency restrictions, advertisers still can’t promote ads for initial coin offerings or DeFi trading protocols. Google is also prohibiting ads that directly promote the purchase, sale, or trade of a particular cryptocurrency. Cryptocurrency trading signals, investment advice, and aggregators or affiliate sites containing related content or broker reviews are also still off limits.

Featured Image: Shutterstock/Sergey Nivens

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