All accounts that advertise Cryptocurrency Coin Trusts must adhere to these guidelines, regardless of their geographical location.
Google is expected to update its policy regarding crypto ad products in January 2024. The updates will include clarifications of the requirements and scope of such ads.
Starting on January 29, 2024, cryptocurrency coin trusts or Exchange Traded Funds (ETFs) can be advertised to users in the United States in those cases when the offered services and products correspond to the rules set by Google.
Scope of the Updated Google Crypto Ad Policy
Cryptocurrency Coin Trusts, in the context of this policy, refers to financial products that enable investors to trade shares in trusts holding large pools of digital currency. This could include trusts that manage portfolios of various cryptocurrencies, providing investors with exposure to the broader digital asset market.
To achieve certification, advertisers must undergo a rigorous evaluation to ensure that their Cryptocurrency Coin Trusts meet Google’s standards. The absence of any issues and the presence of a positive checkmark icon will signify that the product has successfully passed Google’s certification process. This step is crucial in maintaining the quality and legitimacy of the advertised financial products.
While the initial focus is on crypto ad targeting the United States, it’s important to note that this policy will have global applicability. All accounts that advertise Cryptocurrency Coin Trusts must adhere to these guidelines, regardless of their geographical location. This global approach reinforces Google’s commitment to creating a uniform and secure advertising environment for users globally.
In addition to Google’s requirements, advertisers are reminded to comply with local laws in the areas where their ads are targeted. This emphasizes the importance of understanding and adhering to the unique regulatory frameworks of different regions.
Notably, Google’s approach to policy violations is designed to be fair and transparent. Violations of the Cryptocurrency Coin Trust advertising policy will not lead to an immediate account suspension. Instead, advertisers will receive a warning at least 7 days before any potential suspension of their account. This warning period allows advertisers to rectify any issues and ensure compliance with Google’s policies.
Google’s Shifting Stance
This recent policy update signifies a notable shift in Google’s attitude towards crypto-related advertisements. Notably, in March 2018, Google implemented a comprehensive ban on all crypto-linked ads across its platforms, citing consumer harm and potential risks.
Over time, the company has gradually eased these restrictions, allowing certain firms to advertise, provided they are registered with the United States Financial Crimes Enforcement Network (FinCEN).
In September, Google revealed plans to boost the Non-Fungible Token (NFT) gaming sector by allowing advertisements for NFT games starting September 15, 2024. However, there is a condition attached; these advertisements must not encourage gambling or closely related services. The types of games covered by this policy update include those that enable players to purchase in-game items, enhancing their gaming experience.
As the crypto market continues to evolve and mature, these proactive measures contribute to the overall stability and legitimacy of the industry. Advertisers, consumers, and regulators alike will be closely watching how these changes shape the future of crypto advertising on Google.