New Policy Set-up in Google Allows Crypto Entities to Advertise

New Policy Set-up in Google Allows Crypto Entities to Advertise

Google does not require any introduction because no one in this digital world would survive without google. This platform is the one-stop solution for any queries. Now, Google has set-up a new policy that allows crypto ads to run again.

Google updates its financial products and services policy on Aug 3, which states that crypto entities can advertise. The multinational corporation prohibited crypto and initial coin offering related advertisements in June 2018. This new policy enables regulated crypto firms to market their services via ads. 

The firm banned crypto advertisements back in 2018, citing that it is harmful to consumers. After the update of policy revision in June, Google allows advertisers to offer Crypto exchanges and wallets. Those who meet the requirements and are certified by google can advertise products and services.

Moreover, on August 3, 2021, all previous Cryptocurrency Exchange certifications will be revoked. Advertisers should request new Cryptocurrency Exchanges and Wallets certification with Google. This move will be an added profit to the advertising revenue of $147 billion for Google’s parent company, Alphabet.

However, the firm has only allowed crypto entities to market their services. Whereas, initial-coin offering (ICOs), decentralized finance trading protocols, and promotion of buying, selling, or trading crypto-assets are still banned.

Ban Fake Crypto News

Google’s tighter requirements intend to filter out shady advertising and obvious cryptocurrency scams. Advertisers must register with the Financial Crimes Enforcement Network as a “money services business,” as well as with at least one state as a funds transmitter or a federal or state-chartered bank institution.

Significantly, Google prohibits celebrity crypto sponsors, which may help to alleviate some of the problems associated with fake corporate sponsorship. This new policy prohibits crypto ads from integrating links to websites that provide cryptocurrency investment advice, affiliate sites containing related content.

Additionally, TikTok also prohibits crypto-related content from being advertised on its platform. In fact, the amount of fake news spreading is astounding. As a result, Google should prohibit fake crypto news in order to protect early investors from being duped.

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