Following the enforcement of Google’s new policy set out in its financial products and services section on Aug. 3, the company has started running crypto ads again.
Earlier in June 2018, the online search giant banned crypto and Initial Coin Offering (ICO) related advertisements. The updated policy will once again allow crypto entities to advertise their services.
It was announced in June that Google would revise its crypto ad policy to allow advertisers to advertise services and products within cryptocurrency exchanges and wallets that target U.S. consumers as long as they meet specific requirements.
It will provide additional sales for Alphabet, the parent company of Google, although its $147 billion in advertising revenue is likely to be impacted a little by the crypto ads.
Its strict requirements are designed to weed out scammers and shady digital advertising. The Crypto service provider must be registered as a “money services business” with the Financial Crimes Enforcement Network (FinCEN) and as either a money transmitter or as a state – or federally regulated bank entity.
The firm will not allow ads for 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 company 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.
– Nairametrics