Google Lifts Crypto Ads Ban As Crypto Ads Running Again

Google lifted the crypto ads ban as cryptocurrency ads are running on the world's largest search engine.

Google lifted Crypto-related ads ban.
Image of Google and Crypto

Google came up with a new policy, which went into effect on August 3. This new policy enables cryptocurrency advertisers to again promote their businesses and products on the platform. The world's largest search engine banned crypto-related advertisements back in June 2018. However, it allows regulated crypto entities to market their services once again since yesterday. But, the company didn't lift the ban regarding initial coin offerings (ICOs). Google noted that it will not permit ads for ICOs, decentralized finance (DeFi) trading protocols, or the promotion of purchasing, selling, or trading cryptos. It also banned celebrity crypto advertisements, which might be fake. Based on Google’s crypto ad policy in June, advertisers offering crypto exchanges and wallets targeting United States consumers can advertise their services and products if they meet specific requirements. Google’s requirements are meant to stop the advertisement of crypto scams. So it requires advertisers to be registered with the Financial Crimes Enforcement Network. These businesses need to register as a “money services business and with at least one state as a money transmitter, or a federal or state-chartered bank entity.” The policy also forbids crypto ads from connecting to websites that host “cryptocurrency trading signals, cryptocurrency investment advice, aggregators or affiliate sites containing related content or broker reviews.” Last month, TikTok banned crypto-based promotional content. This is to prevent all financial services and products from being advertised on the platform.