Google lifts 2018 ban on crypto exchanges and wallets advertisements
The tech-giant Google surprisingly lifted a three-year-old ban on cryptocurrency exchanges from using its ad services.
The requirements, exchanges have to pass, includes needing to be either registered with “FinCEN as a Money Services Business and with at least one state as a money transmitter” or “a federal or state chartered bank entity,” potentially opening the door to ads from services like Anchorage and Paxos.
Google’s policy update reads, “Beginning August 3, advertisers offering Cryptocurrency Exchanges and Wallets targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google.”
However, the new policy will not enable all kinds of crypto institutions to use the service as “ads for initial coin offerings, DeFi trading protocols, or otherwise promoting the purchase, sale, or trade of cryptocurrencies or related products” all continue to be prohibited as well as news, chart aggregators, signals and analysis also remain in the ad blacklist.
The biggest search engine’s ads policies around crypto have often been conflicting, and at points, experts have decried them as “unfair.”
Back in 2018, the company imposed a ban on an exchange ad, even at one point had “Ethereum” as a blacklisted word in ads, and despite the strict policies, still occasionally allowed scam projects to slip through.
After the new advertisement policy, the United States-based crypto aficionados may soon be bombarded with ads.
The largest exchanges Binance.US and FTX are currently battling to carve out stateside market share, with FTX, in particular, willing to spend on unconventional advertising venues.