services policy, which includes its policy on cryptocurrency
advertising. The new rules will take effect in August and all prior
crypto exchange certifications will be revoked. Advertisers must request
new cryptocurrency exchanges and wallets certification with Google.
Google Introduces New Crypto Ad Rules
Google Inc. posted a notice Wednesday regarding its new crypto ad
policy. “This policy will apply globally to all accounts that advertise
these financial products,” the Internet giant wrote.
The notice explains that Google will update its existing financial products and services policy
in August “to clarify the scope and requirements to allow the
advertisement of cryptocurrency related business and services.” The tech
giant wrote: “Beginning August 3, advertisers offering cryptocurrency
exchanges and wallets targeting the United States may advertise those
products and services when they meet the following requirements and are
certified by Google.”
The company proceeded to explain how advertisers can be certified.
Firstly, they must be duly registered with the Financial Crimes
Enforcement Network (FinCEN) “as a Money Services Business and with at
least one state as a money transmitter.” Alternatively, the advertisers
can be “a federal or state chartered bank entity.”
Furthermore, Google noted that the advertisers must meet all relevant
legal requirements, including state, local, and federal laws and they
must also “Ensure their ads and landing pages comply with all Google Ads
policies.” The company elaborated:
All prior cryptocurrency exchange certifications will be
revoked on August 3, 2021. Advertisers must request new cryptocurrency
exchanges and wallets certification with Google when the application
form is published on July 8, 2021.
Meanwhile, Google clarified that some ads are not allowed. They
include “Ads for initial coin offerings [ICO], Defi trading protocols,
or otherwise promoting the purchase, sale, or trade of cryptocurrencies
or related products.” In addition, “Ad destinations that aggregate or
compare issuers of cryptocurrencies or related products” are also
prohibited.
“ICO pre-sales or public offerings, cryptocurrency loans, initial DEX
offerings, token liquidity pools, celebrity cryptocurrency
endorsements, unhosted wallets, unregulated Dapps, cryptocurrency
trading signals, cryptocurrency investment advice, aggregators or
affiliate sites containing related content or broker reviews” are some
examples of the ads that are not allowed.
Google’s current financial products and services policy states: “We
consider financial products and services to be those related to the
management or investment of money and cryptocurrencies, including
personalized advice.” Crypto ads are currently allowed in the U.S. and
Japan.
source link : https://news.bitcoin.com/google-new-policy-cryptocurrency-ads/
