The ban on cryptocurrency advertising that Google had put in place well over two years ago has suddenly and most pleasantly been reversed as the IT giant announced that it will be allowing cryptocurrency advertising.
The new Google ads crypto policy that came into effect on August 3 was a welcome reprieve for the entire cryptocurrency market, which was experiencing a major upheaval in light of the grandiose appreciation of Bitcoin and all other major cryptocurrencies. The new Google policy on crypto was lauded as an important instrument for fast-tracking the future development of the crypto industry and was considered by many to be a move by the IT giant into the industry itself.
Many experts have voiced their opinions that by allowing cryptocurrency advertising, even despite the list of limitations it implies, Google is trying to capitalize on the rising valuation of the cryptocurrency market and is likely trying to create a new advertising income gateway
Google Introduces New Crypto Ad Rules
The crypto ads on Google policy that was initially set in place after the ICO boom placed strict restrictions on the placement of advertising about cryptocurrency-related products of every kind. However, the new policy set in place in August levied those restrictions and now allows wallets and exchanges to advertise their service.
There are some limitations to consider, however. The reason why the ads have been allowed is because only companies registered with FinCEN will be given the right to advertise their services. This is logical considering that such companies are unlikely to propose a host of products that are still banned from advertising, including all manner of ICOs, IDOs, loan services, liquidity pools for various tokens, cryptocurrencies endorsed by celebrities, some unhosted wallets, or unregulated decentralized applications.
Such limitations are also logical in light of the fact that they pose a higher degree of risk for participants in both financial loss terms and in terms of potentials for scams. The Financial Crimes Enforsement Network is quite vigilant when it comes to monitoring such services, so advertising risky services is off the table.
How to Advertise Cryptos In Google Ads Now
The new policy set by Google has significantly simplified the operation of new startups and decentralized companies seeking to advertise their services. However, the ability to crypto advertise on the biggest search engine on the internet also comes with some strings attached, namely – registration with the Financial Crimes Enforsement Network. This means that advertising will be possible only after a certain procedure has been undertaken.
However, considering that the services allowed for advertising are largely substantial in terms of capitalization, it is unlikely that the advertisers will face difficulties in passing the procedure.
The new policy set by Google is a breath of fresh air for the decentralized market in light of its growing capitalization. And though some limitations are still in place, they are insignificant when it comes to tapping the potential of advertising major crypto products.