Google changes policy to allow crypto ads again

Crypto exchanges and wallets can now be advertised on Google, as long as they have been registered with the Financial Crimes Enforcement Network (FinCEN)

Google is to allow cryptocurrency-related advertising again.

Advertisers offering cryptocurrency products and services to US consumers can now advertise their wallets or cryptocurrency exchanges.

Potential advertisers need to be registered with the Financial Crimes Enforcement Network (FinCEN) as a “money services business and with at least one state as a money transmitter, or a federal or state-chartered bank entity”.

The multinational behemoth banned crypto and Initial Coin Offering (ICO) advertisements back in June 2018 before relaxing the ban yesterday. However, ICOs, DeFi trading protocols, or those promoting the purchase, sale, or trade of cryptocurrencies are still forbidden.

No more ‘Kardashian endorsements’

Google has also left out celebrity cryptocurrency endorsements and “ad destinations that aggregate or compare issuers of cryptocurrencies or related products”. This list includes cryptocurrency trading signals, cryptocurrency investment advice, aggregators, and affiliate sites containing related content or broker reviews.

Last month, social video network TikTok announced it was banning all crypto-based promotional content.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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