Google’s new policy went into effect, permitting cryptocurrency exchanges and wallet providers to runs Advertisement on its Search Engine. Google new policy allowing crypto ads on Google’s network again goes into full effect, on August 4.
The company had banned ads from crypto companies in 2018 but later changed its stance to include a crypto exchange.
Google first laid out its crypto ad revision plan in June, stating that “advertising offering crypto exchange and wallets targeting the United States may advertise those products and services when they meet the following requirement and are certified by Google.”
This latest development might increase Google’s advertising revenue. However, it might not impact Alphabet, Google’s parent company, which creates over $145 billion in advertising revenue.
The rigid requirements placed by Google are to eliminate shady advertising and blatant crypto scams. Advertisers have to compulsory register with the Financial Crimes Enforcement Network (FinCEN), indicating that they are a money services business. The companies must have at least one state as a money transmitter or a federal or state-chartered bank entity.
The firm will not allow ICOs, DeFi trading protocols, and similar ventures to advertise on Google. It wouldn’t allow the promotion of cryptocurrency trading activities, with celebrity endorsement, also banned on search engine platforms.
