Google Revises Crypto Advertising Policy Guidelines
Google has revised its crypto advertising policy update, announced in December. The new policy will permit crypto-finance products, such as the recently approved Bitcoin ETFs, on its platforms. Vaneck and Blackrock, Bitcoin ETF issuers, have started posting their ads on Google.
New Google Ads Policy Permits Bitcoin ETF Ads
The tech giant and advertisement company Google has revised its advertising policies to permit crypto-finance products to feature in ads and sponsored links on its platform. The company announced in December that it would focus on clarifying “the scope and requirements for the advertisement of cryptocurrency coin trusts.”
Google announced in December that it would allow third-parties targeting the US market to advertise “financial products that allow investors to trade shares in trusts holding large pools of digital currency,” such as the recently approved Bitcoin ETF products. However, these ads will be in compliance with local laws for areas targeted by them, as Google enforces this for all accounts advertising this kind of product.
The revised policy guidelines for advertising cryptocurrency coin trusts have reportedly allowed several companies to include sponsored links and ads to entice users to invest in their Bitcoin ETF products, including Vaneck and Blackrock.
Ban on Several Crypto Products Remains in Force
However, the new policy does not approve non-fungible token (NFT) and crypto token sales ads on the platform. The ban on ads for initial coin offerings (ICOs), DeFi protocols, and promoting cryptocurrency purchase, sale, or trading remains in force. Similarly, ads for games promoting gambling or wagering through the use of non-fungible tokens (NFTs) and the promotion of gambling casinos offering NTF rewards are banned on the platform.
Despite these precautions, attackers have been using phishing ads on Google and X to distribute malware and siphon over USD 58 million in crypto, according to reports from Scam Sniffer, an anti-spam solution.
What is your take on the change in Google’s cryptocurrency advertising policies? Please share your thoughts and opinions in the comments section below.
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