Google will now enable all crypto-related ads in exchange for some terms and conditions. Google will finish reverting the ban in August of this year.
Google’s new Terms and Conditions
The terms and conditions for receiving Google’s approval for putting up advertisements related to crypto included that any crypto exchange or crypto wallet provider has to be registered on the FinCEN, which stands for Financial Crimes Enforcement Network or any federal bank entity. These terms will also include agreeing to the federal legal requirements and Google’s global advertisement policy. Google updated about this change just a few days ago, stating in the announcement that the changes will be applied later in August this year.
Following the changes, every single license and certification of crypto exchanges will also be removed. This means that advertisers wishing to use Google ads must apply for the new version of the certification in regards to all of the necessary changes in policies. The application form for applying for the new certifications will start to become available on the 8th of July.
Despite the lifted ban on crypto-related ads, there are only a few limited types of advertisements that can be published via Google. Because advertisement has seen an extremely high usage in the past few years, Google focuses on improving its system that can prevent any irrelevant advertisements from being posted using their service. Limitations on advertisement mean that ads related to the following crypto-related systems will not be allowed.
- Initial Coin Offerings
- DeFi Trading Protocols
- Crypto-based loans
- DEX Offerings
- Token LPs
- Wallets without hosts
- Crypto endorsements by celebrities
Adding to this, Google will also stop advertisers from posting ads that link to comparisons about cryptocurrencies and respective products. This mashes up trading signs, investment advisory, broker reviews and others.
Crypto-based advertisement Ban history
Google’s previous ban was a reaction to the extremely high level of interest developed in the crypto industry that followed the massive boom that occurred back in 2017. This was a very controversial move from Google that developed frustration in the crypto industry.
Social Media platform Facebook also followed up the move made by Google by also banning crypto-related advertisements, but then reverted the changes after some time.