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Cryptocurrency companies are allowed to advertise on Google

03 Aug 2021 : 19:02
2 min read
  • Google announced it will allow cryptocurrency companies to run ads again
  • There are strict conditions attached to these advertisements
  • TThe change could be an important step for the crypto communtiy

Today, Google released a new update about its advertising guidelines. The update will allow cryptocurrency wallet parties and exchanges from around the world to once again run ads on Google’s search engine, YouTube, Gmail, and Blogger. Currently, these ads are only allowed to target US users.

There are strict conditions attached to these ads

It may seem that anyone can now create crypto ads for Google. However, there are strict conditions attached to these advertisements. Any crypto party wishing to use them must be registered with Financial Crimes Enforcement Network (FinCEN) or have a license to operate a national or local bank.

This policy change comes three years after Google banned all crypto-related ads in March 2018. However, Google changed this policy five months later and allowed regulated cryptocurrency exchanges such as Coinbase to advertise in the United States and Japan in September 2018. As of today, other crypto companies are also allowed to advertise, but not all. The new policy does not allow advertising for Initial Coin Offerings (ICOs), decentralized financial trading protocols (DeFi), or advertising for specific cryptocurrencies.

A step in the right direction for the crypto community

The change in Google’s stance could be an important step for the crypto community, which faces regulatory uncertainty around the world. Inclusion in Google’s advertising network will allow them to reach a large audience, while regulations from US financial regulator FinCEN will give these platforms some credibility they may not have had before.

Google’s parent company is Alphabet, and it generated $147 billion in advertising revenue last year, accounting for 80% of its total revenue.

About Author

Stan Colenbrander

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Stan is the head of news and podcast host at Cryptonary. He was formerly a member of the Cryptonary Pro community. In early 2021, he decided to drop out of journalism school at university to pursue journalism in real life and make an impact in the crypto space. . His areas of interest include the NFT industry, decentralised finance, and crypto start-ups.

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