Kayode Shopekan
Search engine giant, Google has started running cryptocurrency advertisements again.
Join our WhatsApp ChannelFollowing the enforcement of Google’s new policy rolled out in its financial products and services section on Aug 3, 2021, the company will once again allow crypto entities to advertise their services.
Google had announced that it would revisit its crypto ad policy to give room for advertisers to advertise their products and services within cryptocurrency exchanges and wallets that target U.S. consumers as long as they meet specific requirements.
There are strict requirements put in place to block scammers and shady digital adverts. All crypto service providers to be allowed by google must be registered as a “money services business” with the Financial Crimes Enforcement Network (FinCEN) either as a money transmitter or as a state or federally regulated bank entity.
In addition, the firm will not allow ads for Initial Coin Offerings (ICOs), DeFi trading protocols, or the promotion of purchasing, selling or trading crypto assets. There is also a ban on celebrity crypto endorsements, which may help in part with the problem of fake celebrity endorsements.
The trillion-dollar valued online company, Google, has also prohibited crypto ads from linking to websites that host “cryptocurrency trading signals, cryptocurrency investment advice, aggregators or affiliate sites containing related content or broker reviews.
