Reshab AgarwalGoogle, one of the best IT companies, has declared about an upgrade to its different financial items and services. Now, this also includes policies related to crypto advertisements. And the new rules will start in August. Along with this, they will revoke previous crypto exchange certificates. So, marketing advertisers of different companies should ask for new crypto exchanges and wallet certification from Google for further continuation.
Let’s see what the rules by Google are
We saw on Wednesday that Google Inc. has posted regarding the new crypto ad policy. And whatever the policies might be will take place worldwide, especially the accounts responsible for endorsing financial items.
Google explains that existing financial products and services will upgrade to their newest version, and this will ensure better scope or requirements related to crypto services and business. The notice continued, and it said that this would take its effect by 3rd August. In addition, there are many advisors globally who are working on cryptocurrency exchange and policies involved. However, Google Inc. said that accounts targeting the US could continue their work when the requirements are fulfilled.
Image source: TradeMoneta TradeMoneta
The firm continues explaining the certification process that the advertisers need to go through. First, one needs to register themselves under Financial Crimes Enforcement Network (FinCEN). Additionally, all of these comes under money service and business, and only one state acts as a money transmitter. So, the advertisers can now become an entity of chartered banks.
Secondly, it must be of utmost importance to meet all legal requirements, including state, local, and federal laws. Advertisers must also ensure that their ads and landing pages would fulfill every Google Ad policy. Google goes on about the crypto exchange policy and informs its fellow users that the application form will be live on July 8, 2021.
More about the Ad Policies
Image source: inSegment
Google does not allow many advertisements from now onwards. For example, the company does not allow advertisements like Initial Coin Offerings and Defi Trading Protocols. And, the internet giant also does not allow advertisements promoting buying, selling, or trading cryptocurrencies. Additionally, advertisements that endorse or compare issuers of crypto and related blockchain products are also under the roof of prohibition.
Here are some more examples of ads that are not allowed.
- Cryptocurrency Trading Signals
- Token Liquidity Pools
- Crypto Loans
- DEX offerings
- ICO pre-sales/public offerings
- celebrity endorsement
- unregulated Dapps
- Crypto-related advice
- Broker Reviews
Google has always been ahead in the Tech Business, and there is no one in the world who doesn’t use Google. Furthermore, the company added that they consider financial services related to the management or investment of money. And, in this case, cryptocurrency is also included in the discussion. US and Japan are the only countries where crypto ads are allowed.
What are your thoughts related to the policies invoked by Google? Let us know in the comments section below. If you like the content, do not forget to like and share it with your close ones.
Also, read:- OnePlus might launch Crypto Wallet after Samsung!