Google lifts ban on cryptocurrency adverts

Google has lifted the three-year ban on cryptocurrency adverts on its platform.

While it approved adverts for cryptocurrency, Google sustained its ban on DeFi, initial coin offerings, cryptocurrency loans, initial DEX offerings, token liquidity pools, celebrity cryptocurrency endorsements, un-hosted wallets, and unregulated DApps.

In a statement released by Google for its Financial Products and services policy for June and seen by Ripples Nigeria, the search engine giants said cryptocurrency exchanges would be allowed to target the United States audience with its adverts but they must meet Federal and Local laws in the country.

Google’s new decision is expected to increase the interface between internet users and cryptocurrency exchanges.

It will also increase the popularity of the digital currency across the world since Google is the most popular search engine.

Google also listed the requirements for advertisers.

It said the advertisers must duly register with:

(a) FinCEN as a Money Services Business and with at least one state as a money transmitter; or:

(b) a federal or state chartered bank entity.

READ ALSO: Google introduces Bitcoin, other cryptos, on its finance platform

Comply with relevant legal requirements including any local legal requirements, whether at a state or federal level.

Ensure their adverts and landing pages comply with all Google Ads policies

Google also listed digital assets that are not accepted for adverts.

Adverts for initial coin offerings, DeFi trading protocols, or otherwise promoting the purchase, sale, or trade of cryptocurrencies or related products

“Examples (non-exhaustive): ICO pre-sales or public offerings, cryptocurrency loans, initial DEX offerings, token liquidity pools, celebrity cryptocurrency endorsements, unhosted wallets, unregulated DApps

“Advert destinations that aggregate or compare issuers of cryptocurrencies or related products

“Examples (non-exhaustive): Cryptocurrency trading signals, cryptocurrency investment advice, aggregators, or affiliate sites containing related content or broker reviews.”

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