Google to allow cryptocurrency ads from January 2024

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Google said merchants selling Cryptocurrency Coin Trust can advertise their products on the platform beginning January 29, 2024.

This comes five years after Google prohibited any cryptocurrency-related goods adverts from its site. Google stated in a recent policy update that the adjustments are based on new criteria developed through its certification process and are intended to provide crypto users with sufficient information to make educated decisions.

Once the regulation is implemented, Cryptocurrency Coin Trusts will be able to produce and serve adverts on Google.

However, direct promotions that imply or offer purchases, holding, or swapping are prohibited. Cryptocurrency Coin Trusts, as defined by Google, are financial products enabling investors to trade shares in trusts holding extensive digital currency pools.

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Businesses that accept virtual currencies for payments or sell mining hardware may also advertise on Google, provided they follow current Google Ads regulations. Notably, educational content on crypto is also allowed on the platform.

Google in the policy update noted that in addition to its guidelines, all advertisers are to comply with the local laws for any area that their ads target.

  • “We want users to have adequate information to make informed financial decisions. Our policies are designed to give users information to weigh the costs associated with financial products and services and to protect users from harmful or deceitful practices. For the purposes of this policy, we consider financial products and services to be those related to the management or investment of money and cryptocurrencies, including personalized advice.
  • “When promoting cryptocurrencies and related products, you must comply with state and local regulations for any region or country your ads target. Refer to our non-exhaustive list of country-specific requirements for more information but note that advertisers are expected to do their research on the local regulations for any location their ads target,” it said.
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NFT games also allowed

Google said NFT-based games and platforms are allowed to advertise on the platform, but only to a certain extent. It added that blockchain-based games that offer purchases of items, characters, weaponry, or armour with improved stats and the like are allowed as long as these are consumed in-game.

  • “Promotion of games where players can wager or stake NFTs in exchange for the opportunity to win anything of real-world value (including other NFTs),” Google said.

Hardware wallets that hold private keys to crypto and NFTs are also allowed to advertise under certain conditions. The policy also details the requirements for advertising cryptocurrency exchanges and software wallets, stressing the necessity of licensure and adherence to local laws and industry standards.

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