Crypto ads have returned on the advertising platform of Google following the largest network revised its policies in June, but it’s not exactly as open as previously.
In March this year, the company had banned all advertising related to initial coin offerings (ICOs) and crypto firms. The policy imposed an overarching ban on almost every crypto product, including wallets, exchanges and more.
Come June, the tech giant revised the policy to allow handpicked firms to return onto its largest worldwide advertising platform – in a sign that the blockchain and crypto industry had somehow matured over the span of 3 months.
On August 4, the new policy allowed crypto ads in Google’s network to go live again.
The new policy includes crypto wallets based in the United States only. However, the ads will be displayed globally.
The company also needed crypto business to be registered with the US Financial Crimes Enforcement Network (FinCEN) as a Money Services Business with at least 1 state as a money transmitter.
This offers some more credibility to business advertising on its network. It is mandatory for them to be registered with a state or federal chartered bank entity and adhere to Google’s own advertising policies and of course ‘relevant legal requirements’.
The new policy isn’t without its restrictions. While crypto exchanges and wallets are in the clear, the tech giant still won’t allow advertising about DeFi and ICOs trading protocols. Google said that it will also prohibit the promotion of the products that are otherwise advertising the sale, purchase or trade of cryptos, or associated products. The company also gave a non-exhaustive list of what this might include.