Google’s new policies related to advertising cryptocurrency wallets and exchanges finally have spread out in the market and received much appreciation. Google Inc. is removing the ban, which was imposed for over three years, on the advertisements of products related to cryptocurrency. The support page of Google has been updated by the announcement of the latest policy for handling advertisements of crypto wallets and exchanges in the U.S.
It is expected from the advertisers that they might offer their services for advertisements of crypto wallets and exchanges in the United States starting from August 3 based on the fulfilment of Google certified requirements. The applications to be certified will be allowed in July. By complying with the legal conditions of Google, the crypto organizations can get certification from Google. If these companies are registered with Financial Crime Enforcement Network (FinCEN), and at least one country authenticates them by declaring them state or federal chartered entity.
All the certifications before the policy update are stated to be dismissed by Google from the time of the new policy’s application on the 3rd of August, 2021, providing new guidelines to the advertisers. After the official announcement of the application, the advertisers will have to submit for the certification of new crypto wallets and exchanges on 8th July 2021.
Google banned the crypto advertisements by starting a crackdown against the advertisers in March 2018. The implementation of that ban affected the advertisers by restricting them from advertising products related to cryptocurrency in June 2018. Now, after three years, this ban is being lifted on the following conditions.
In addition, it was made clear that advertisers are still not allowed to propagate ads for trading DeFi (Decentralized Finance) protocols or ICO (initial coin offerings) even after the updated policy’s launch. The ads promoting the direct trade, purchase, or sale of a specific cryptocurrency are also prohibited by Google. Other ads propagating the companies that compare, aggregate cryptocurrencies and other related products are also prohibited.
This stance of Google may turn out to be difficult to digest for the crypto-related public. Nowadays, the crypto community is confronting a lot of uncertainties regarding its regulation all around the world. Through this platform, it will be easy for them to circulate the globe to approach a vast audience. In the case of the crypto community of India, there may be the least effective. The reason behind this is that, except for a few, there will be no possibility for most of the Indian crypto community to advertise.