New Cryptocurrency policies of Google Ads are taking effect
New Cryptocurrency policies of Google Ads are taking effect
New cryptocurrency regulations of Google Ads have finally come into force. Here is what crypto marketers need to do for advertising to continue! From yesterday onwards, Google will only show cryptocurrency advertisements for advertisers registered as a money services firm by the Financial Crimes Enforcement Network or by federal or state-owned banks that have already completed the new verification procedure and fulfil all other category requirements.
This is especially delicate as frauds have taken place in the past offering to offer Bitcoin presents, including a hoax that was presented as Apple co-founder Steve Wozniak, leading to an action against Google and YouTube in 2020.
Cryptocurrency Exchange and Wallet Requirements to run Google Ads To have these Crypto Currency Exchanges and Wallets advertise on Google Announcements, these advertisers must be registered as a Money Service Business with FinCEN and with at least one government as a money sender or a government bank chartered.
Companies must meet applicable legal requirements, including local legal requirements at state or federal level. Like all other advertisers, their advertisements and landing pages must also comply with all of the Google Ads rules. Exchanges & Wallets Cryptocurrency Verification of Google Ads All marketers must undergo the new Crypto monetary Exchange and Wallet verification process, which has been revised in July, to advertise in this category. Here advertisers may start the certification procedure. The certifications of the previous Cryptocurrency Exchange will be withdrawn on 3 August. In order to obtain certification, legal and personal identity proof is required, similar to the verification procedure for other marketers.
Additional constraints
Although certain crypto advertisements are permitted, many are still not authorised. Advertisers cannot yet advertise ad locations that add or compare cryptocurrency or similar items issuers. Advertisers may also not advertise initial coin offers or otherwise promote the acquisition, sell or trade in cryptocurrencies or associated items. DeFi Trading Protocols
