Google has updated its advertising policy to allow cryptocurrency exchanges to advertise in the US, as long as advertisers are registered with the FinCEN.
August 5, 2021, | AtoZ Markets – The world’s largest search engine Google has updated its advertising policy for financial products and services. Starting Tuesday, businesses can again launch cryptocurrency campaigns. Despite the fact that the complete ban has been lifted, the restrictions still remains.
Only regulated companies can advertise cryptocurrency products
Only regulated companies can advertise cryptocurrency products and services to consumers in the United States. This means that they must be registered with Financial Crimes Enforcement Network (FinCEN) as a money operator and be licensed as a money transfer operator in at least one state, or be a federal or state banking institution.
“Cryptocurrency products and services can only be advertised if the advertiser is a licensed service provider, their products comply with local laws and industry standards, and their account is certified by Google,” the policy page says.
ICO and DeFi advertising remains banned
Google banned advertising related to Initial Coin Offerings (ICOs) investments and other crypto products and services in June 2018. Even after the policy update, Google still prohibits advertising ICOs and DeFi protocols, as well as “buying, selling or trading cryptocurrencies or related products.”
In addition, platforms that offer summary information or compare cryptocurrency issuers or related products cannot be advertised.
The first update to Google’s policy on advertising for financial products and services was released in June.
Google controls the largest ad network, displaying ads on search pages, on Google Adsense-enabled sites, and on its other platforms. Despite the tight restrictions, the crypto community sees the partial lifting of the ad ban as a positive signal.
Other social media platforms prohibit paid ads for cryptocurrencies and other high-risk financial products. Tiktok, a mobile video-sharing platform with over a billion users worldwide, updated its branded content policy last month, barring users from posting any advertising content about cryptocurrencies and Forex trading products.
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