Google will re-allow cryptocurrency exchange and wallet ads, which it has banned since 2018, from August 3. Those who want to show ads will need to get a certificate from Google.
Google has decided to end the ban on cryptocurrency advertising by making a radical decision. The US tech giant has given the green light to cryptocurrencies for the first time in three years.
The decision was shared with the public with an announcement on Google’s website titled “Update to financial products and services policy (June 2021)”. From August 3rd, cryptocurrency exchanges and cryptocurrency wallets will be able to show ads to users in the U.S. using Google Ads tools.
Exchanges and wallets that want to run cryptocurrency ads will need to get a Cryptocurrency Exchange and wallet certificate from Google. To obtain this certificate, you must have the following conditions:
- Register with FinCEN as a Money Services Business and in at least one state as a money transfer organization, or
- be registered with a bank entity licensed by the federal or state.
Getting permission from Google to advertise isn’t enough. Google has said it will not allow ads on some topics. For example, new public offerings, ICO pre-sales, celebrity recommendations, and advertising of DApps apps will not be allowed.
It’s only regulated for users in the U.S., but Google’s lifting of the cryptocurrency advertising ban for the first time since 2018 could be a milestone. Similar decisions may be made for other countries in the coming days after the start of advertising in the U.S.