Google recently announced that it would be launching an “update” [to] the Financial Products and Services Policy to clarify the scope and requirements to enable the promotion of cryptocurrency-related businesses and services on the Google platform.The update will take effect in August and will replace the existing cryptocurrency advertising policy that has been in place since 2018 is in effect. According to Emily Mason, who reports for Forbes, “The new policy will apply to Google Search and its third-party websites worldwide. including YouTube, Gmail or Blogger. “
What is Google’s New Cryptocurrency Policy?
According to Google’s updated cryptocurrency advertising policy, “Advertisers who offer US-targeted cryptocurrency exchanges and wallets” must meet certain requirements and certifications if they want to advertise these products and services on Google platforms. To meet the new certification of cryptocurrency exchanges and wallets, according to Google, advertisers must:
Be properly registered with
(a) FinCEN as a money service company and with at least one state as a money transmitter; or
(b) a federally or state-recognized banking company.
Follow relevant legal requirements, including any local legal requirements, be it state or federal.
Make sure your ads and landing pages meet all Google Ads guidelines
Will Google advertisers with current cryptocurrencies be exempted from the new guidelines?
There are no exceptions to Google’s new advertising policy for cryptocurrencies and all previous “Cryptocurrency Exchange Certifications” by advertisers will be revoked on August 3rd. In order to continue to advertise, advertisers must meet the guidelines of Google’s new cryptocurrency exchange and wallet certification.
Are there any advertising restrictions on cryptocurrency advertisers certified with Google after August?
Yes. Even after the updated requirements of Google certification for cryptocurrency exchanges and wallets have been met, restrictions will continue to apply to cryptocurrency advertisers on Google. According to Google, the following are not allowed:
- Ads for Initial Coin Offerings, DeFi trade logs, or other advertisements for the purchase, sale, or trade of cryptocurrencies or related products
- Ad targets that aggregate or compare issuers of cryptocurrencies or related products
How should cryptocurrency advertisers prepare for Google’s new cryptocurrency certification and advertising guidelines?
Google had a back and forth relationship with crypto advertising and initially rejected any advertising for cryptocurrencies before embarking on the current and soon-to-be-revised certification policy. For crypto advertisers, compliance is essential to continue advertising. Applications for the new Google cryptocurrency certification will open on July 8th and the new guidelines will be available to view immediately.
Are you looking for new ways to reach your target groups?
Digital Media Solutions® (DMS) is a leading provider of technology-enabled, data-driven digital performance advertising solutions that connect consumers and advertisers. Contact DMS today to learn how our first-party database, proprietary technology, and wide media reach can help you diversify your digital advertising campaigns while engaging with interested customers.
Related news on the latest Google updates
Additional digital advertising resources
About the author
More content from Sarah Cavill