Google To Allow Crypto Ads For Regulated Exchanges Next Monthbr>
Internet giant Google is reversing its blanket ban on crypto-related advertisements and is planning to allow regulated cryptocurreny exchanges to buy ads in the US and Japan.
Earlier this year, the Internet giant announced a ban on ads promoting cryptocurrencies and initial coin offerings (ICO) on its platforms and third-party websites due to ongoing fraudulent activity involved in the unregulated markets.
“We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution,” Scott Spencer, Google’s director of sustainable ads, said at the time.
In a new update, Google said it will be updating its Ads policy on Financial products and services in October to allow regulated crypto exchanges to advertise in the US and Japan. Advertisers must be certified by Google, and their products, landing pages, and ads must meet all local legal requirements of the country they want to get certified for.
“Advertisers will need to be certified with Google for the specific country in which their ads will serve,” Google said. “Advertisers will be able to apply for certification once the policy launches in October. This policy will apply globally to all accounts that advertise these financial products.”
The move follows Facebook, which launched a “cryptocurrency products and services onboarding request” form in June that allows some companies to get their ads on the platform. However, ads related to ICOs or binary options are still prohibited.