Google removes Crypto advertisement ban
Google is finally stretching a welcoming hand toward Cryptocurrency advertisement on its platform.
Google put out a press release that stated the ban of cryptocurrency exchange advertisement on its platform which was placed over three years ago, has been removed and is now allowed starting from August 2021.
In addition to the ban being lifted, Google added that Crypto exchanges that want to advertise on its platform must be guided by some form of regulation.
Some of the registration requirements for Crypto exchanges that want to advertise on Google are:
- Having FinCEN as a Money Services Business with at least one state as a money transmitter; or
- A federal or state-chartered bank entity.
In spite of the restriction lift, Google still maintained that certain aspects of Cryptocurrency are still banned from its platform such as:
- DeFi trading protocols, Ads for initial coin offerings or otherwise promoting the purchase, sale, or trade of cryptocurrencies or related products.
- ICO pre-sales or public offerings, cryptocurrency loans, initial DEX offerings, token liquidity pools, celebrity cryptocurrency endorsements, un-hosted wallets, unregulated DApps.
- Cryptocurrency investment advice, Cryptocurrency trading signals, aggregators, or affiliate sites containing related content or broker reviews.
Financial analysts say that Google’s move to lift the advertisement ban on Crypto exchanges on its platform is a calculated one seeing as the company recently incorporated a finance feature to its platform that has Cryptocurrency.