Google has announced that from January 29, 2024, advertisers promoting Cryptocurrency Coin Trust can showcase their products on the platform. This move comes five years after Google’s blanket ban on crypto-related ads. The tech giant attributes this reversal to updated criteria in its certification process, aimed at empowering users with essential information for informed decisions.
The revised policy permits Cryptocurrency Coin Trusts to run ads, facilitating the trading of shares in trusts holding diverse digital currency pools. However, direct promotions involving purchases, holding, or swapping are strictly prohibited. Businesses accepting virtual currencies for payments and those selling mining hardware can also advertise, adhering to current Google Ads regulations. Educational content related to cryptocurrency is now allowed on the platform as well.
“When promoting cryptocurrencies and related products, you must comply with state and local regulations for any region or country your ads target. Refer to our non-exhaustive list of country-specific requirements for more information but note that advertisers are expected to do their research on the local regulations for any location their ads target,” it said.
According to Google’s policy update, advertisers must comply with local laws for the regions targeted by their ads. The company emphasizes providing users with comprehensive information to make informed financial decisions while safeguarding them from deceptive practices.
Notably, Google extends its advertising scope to include NFT-based games and platforms, with certain limitations. Blockchain-based games that involve in-game purchases, such as items, characters, or weaponry, are permitted, as long as these remain confined to the gaming environment. The policy also outlines conditions for advertising hardware wallets, cryptocurrency exchanges, and software wallets, emphasizing the importance of licensure and compliance with local laws and industry standards.
This move by Google signifies a broader acceptance of cryptocurrency-related businesses, aligning with the evolving landscape of digital assets.