Google lifts ban on Crypto exchanges advertisements
- 3rd June 2021
- Posted by: Hakeem
- Category: Crypto
Google, the world’s most widely used search engine, some hours ago issued a press release lifting a nearly three-year-old policy banning Crypto exchanges from using its ad services.
The search engine demigod, however, highlighted that crypto exchanges permitted for ads on its platform must have some form of regulation.
From 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.
To be certified by Google, advertisers will need to be duly registered with:
(a) FinCEN as a Money Services Business and with at least one state as a money transmitter; or
(b) a federal or state-chartered bank entity.
Advertisers are also mandated to comply with relevant legal requirements, including any local legal requirements, whether at a state or federal level.
Google, however, affirmed that the following were still under the ban:
- DeFi trading protocols, Ads for initial coin offerings or otherwise promoting the purchase, sale, or trade of cryptocurrencies or related products.
- Examples (non-exhaustive): ICO pre-sales or public offerings, cryptocurrency loans, initial DEX offerings, token liquidity pools, celebrity cryptocurrency endorsements, un-hosted wallets, unregulated DApps.
- Cryptocurrency investment advice, Cryptocurrency trading signals, aggregators, or affiliate sites containing related content or broker reviews.
Crypto pundits anticipate that the new advertisement policy means that the internet community may soon be bombarded with Crypto ads, with leading Crypto exchanges like FTX, Gemini, Coinbase meeting such criteria.
Some months ago, the world’s most valuable search engine, added selected cryptos to its finance platform.
Alongside leading financial markets, particularly in emerged markets, the trillion-dollar company added a “Crypto” section thereby giving Bitcoin, Ethereum, Litecoin, Bitcoin Cash more limelight.
This comes as no shocker to many market commentators as the trillion-dollar company incorporating crypto assets on its finance page follows a long wave in mainstream approval over the past months.