Google has announced that regulated cryptocurrency exchanges will be allowed to advertise on its platforms in the United States and Japan starting in October. This removes some of the restrictions the company placed on crypto ads in June.
Some Crypto Ads Will Be Allowed
Google has posted a notice on its website regarding changes in its cryptocurrency ads policy, stating:
The Google ads policy on financial products and services will be updated in October 2018 to allow regulated cryptocurrency exchanges to advertise in the United States and Japan…Advertisers will need to be certified with Google for the specific country in which their ads will serve.
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The company considers “financial products and services to be those related to the management or investment of money and cryptocurrencies, including personalized advice.”
Google explained that “Advertisers will be able to apply for certification once the policy launches in October,” noting that “This policy will apply globally to all accounts that advertise these financial products.”
In May, Google announced restrictions on ads relating to “Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice).” This policy went into effect in June. According to Cnbc, Google’s parent company, Alphabet Inc., gets roughly 86 percent of its total revenue from advertising. The firm earned more than $54 billion in ad revenue in the first half of this year.
Google’s Current Crypto Ads Policy
Google’s Advertising Policies section explains that some financial products are restricted “Due to the inherent complexities and risks involved” in their trading. The company noted that the information will be updated once the new policy goes into effect.
Currently, restricted products include “Ads for cryptocurrencies and related content” and “Ad destinations that aggregate or compare issuers of cryptocurrencies or related products.” For example, “Ads for initial coin offerings, ads promoting the purchase or sale of cryptocurrency, cryptocurrency wallets, cryptocurrency trading advice” are prohibited, the firm wrote. Furthermore, ads about “Cryptocurrency trading signals or investment advice; aggregators or affiliate sites containing related content or broker reviews” are also prohibited.
Other Platforms’ Crypto Ads Policies
Some other major platforms have similar policies regarding cryptocurrency advertising. After banning them in January, Facebook started allowing some types of crypto ads in June.
Twitter’s ads policy page currently lists “Cryptocurrency ICOs” and “Cryptocurrency token sales” under “financial services and related content” that Twitter permits the promotion of “with restrictions.”
Microsoft’s policy page for Bing ads currently states that advertising for “Cryptocurrencies and cryptocurrency related products including, but not limited to initial coin offerings, cryptocurrency exchanges, and cryptocurrency wallets” are not permitted.