Following a long-standing crypto ban and a strict advertising policy on financial products and services, Google is allowing marketers to run cryptocurrency adverts on its platforms once again.
Along with new measures, Google lifts the ban
The international software corporation banned crypto ads and other similar items three years ago, in June 2018. Coin offerings, cryptocurrency exchange platforms, wallets, and any investment or crypto trading advice were all included.
Google has lifted its ban on ads targeting US customers using cryptocurrencies. Google says it will continue to monitor the situation for a few days.
Cryptocurrency firms must register with the Financial Crimes Enforcement Network (FinCEN) before they can advertise on Google. The search engine is hell-bent on ensuring that its platform isn’t used to promote dubious services, such as ICOs and decentralized finance protocols.
The first decentralized exchange (DEX) offering, token liquidity pools, digital currencies sponsored by celebrities, unhosted wallets, and uncontrolled decentralized applications are all subject to the restrictions outlined (dApps) in the DApps rulebook.
Pre-sales, crypto loans, pre-sale of tokens, ICOs, and other activities will be subject to restrictions. The new policy also prohibits crypto advertisements from being linked to websites that contain crypto-based content.
Google will no longer show advertisements that make comparisons between cryptocurrency issuers or related products. The change affects sites that provide investment advice, trade signals, and other information on Bitcoin and other cryptocurrencies as well as affiliate sites that hold related information or broker reviews. Google says it is working to improve the transparency of its advertising system. Crypto ban and a strict advertising policy on financial products and services have come to an end
Is It The Crypto Effect Or The Google Effect?
Crypto entrepreneurs say Google’s relationship with cryptocurrencies has been a source of annoyance for them. The company blocked ads during the 2017 crypto boom but is now allowing them to advertise on its search engine.
It became even more concerning as other well-known businesses and institutions appeared unwilling to participate in the industry.
As a result, Facebook followed suit, banning cryptocurrency-related ads on its platform as well. Since then, Facebook, like Google, has lifted the prohibition on crypto ads, and the crypto business is gaining traction like never before in 2021.
The public’s perception of cryptocurrencies is rapidly changing. Cryptocurrencies are attracting interest from institutions and organizations, with some countries seeing them not just as genuine assets but also as legal money.
Companies like MasterCard, Visa, and Paypal, which used to consider the crypto business as a threat to established financial systems, are increasingly exploring new interoperable ways to bridge the gap between crypto and fiat. ChangeNOW allows you to instantly buy or sell any cryptocurrency you want.