Google took a radical decision to end the ban on cryptocurrency advertising. The US technology giant gave the green light to cryptocurrencies for the first time in 3 years.
The decision was shared with the public with the announcement titled “Update in financial products and services policy (June 2021)” made on Google’s website. Cryptocurrency exchanges and cryptocurrency wallets will be able to display ads to users in the US using Google Ads tools from August 3rd.
Certificate required
< Exchanges and wallets that want to advertise
Cryptocurrency will need to obtain Cryptocurrency Exchanges and Wallets certification from Google. In order to obtain this certificate, the following conditions must be met:
- Register with FinCEN as a Money Services Business and in at least one state as a money transfer institution, or
- registered with a federally or state-licensed bank entity.
Getting permission from Google to advertise is not enough. Google has announced that it will not allow ads on certain topics. For example, new IPOs, ICO pre-sales, celebrity referrals, and advertisements of DApps apps will not be allowed.
US-only regulation
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Crypto money ads will not be shown to customers in Turkey yet. It’s only regulated for users in the US, but it could be a milestone when Google lifts the cryptocurrency advertising ban for the first time since 2018. Similar decisions may be made for Turkey and other countries in the coming days after the start of advertisements in the USA.