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Google lifts ban on crypto ads as new policy goes into effect

CryptocurrencyAug 04, 2021 05:00PM ET
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Google lifts ban on crypto ads as new policy goes into effect

Following an update to its financial products and services policy, Google (NASDAQ:GOOGL) will once again allow crypto ads on its platforms.

The multinational company placed a ban on crypto-related ads on all its platforms back in June 2018. However, a new policy that went live on August 3 will now allow crypto exchanges and wallet providers to advertise their products and services on Google as long as they meet certain requirements.

As earlier reported by BTC PEERS, crypto exchanges and wallets that intend to use the service are expected to register with the Financial Crimes Enforcement Network (FinCEN).

Google’s new policy is not a free pass to all kinds of crypto-related ads as the company still has restrictions on using its platform to promote ICOs, IDOs, loans, token liquidity pools, unhosted wallets, dApps, and celebrity-endorsed cryptocurrencies. Google’s updated policy also prohibits linking crypto ads to websites that host crypto-related content.

Digital currencies are building a reputation to be more legitimate, and large institutions are beginning to show more interest in crypto matters. This includes companies such as Google and Facebook (NASDAQ:FB) that initially restricted crypto content on their platforms in a bid to protect unsuspecting users from scams and frauds.

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Google lifts ban on crypto ads as new policy goes into effect
 

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