Google has once again resumed running ads for digital currency and related services, after rolling out a new policy from August 3, meaning digital currency wallets and exchange services can advertise through Google channels.
The move comes following the decision to ban digital currency ads back in June 2018, with the search giant opting to ban ads for all crypto and ICO related products and services. While digital currency ads have now resumed for services like wallets and exchanges, ICOs remain prohibited from Google’s ad network.
The updated policy, which was first outlined in June, allows advertisers to market their digital currency services to audiences in the United States, provided they meet specific requirements as set out in the policy.
Among them is a requirement that advertisers are registered with the Financial Crimes Enforcement Network (FinCEN) as a “money services business and with at least one state as a money transmitter, or a federal or state-chartered bank entity,” a measure designed to ensure digital currency advertisers are legitimate.
Ads promoting the purchase, sale or trade of digital currencies remain prohibited, along with ads relating to ICOs and decentralized trading platforms. There also remains a prohibition on celebrity endorsements, following a raft of fake endorsement campaigns marketing digital currencies.
The ban also extends to sites offering “cryptocurrency trading signals, cryptocurrency investment advice, aggregators or affiliate sites containing related content or broker reviews.”
The move follows similar steps across online platforms to clarify the rules around digital currency promotion. Just last month, Tik Tok introduced a ban on promotional digital currency content, as part of its strategy for banning all financial promotional content from its platform.
With the return of advertising in limited cases on Google, digital currency exchanges and wallet services in particular stand to benefit from a new mechanism for finding clients and driving growth in their user numbers.
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