On January 29, 2024, Google made an announcement allowing advertisers of Cryptocurrency Coin Trust to promote their products on the platform; a reversal from the five-year ban on crypto-related ads the company had implemented earlier. The new criteria established through Google’s certification process aim to provide users with sufficient information to make informed decisions. Advertising that involves direct promotions of purchases, holding, or swapping is prohibited.
Cryptocurrency Coin Trusts are financial products that enable investors to invest in trusts of different digital currency pools. Businesses that accept virtual currencies or sell mining hardware are allowed to advertise, as long as they abide by Google Ads regulations. Also, educational content related to cryptocurrency is allowed on the platform.
In addition to the guidelines, all advertisers must adhere to local laws in the regions they target. Google’s policies are designed to provide details about the costs associated with financial products and services, including cryptocurrencies. Furthermore, the company permits advertisements for NFT-based games and platforms, with certain limitations. Hardware wallets safeguarding private keys for cryptocurrencies and NFTs are also allowed, provided they satisfy specific conditions.
In 2018, Google and Facebook imposed a ban on all crypto-related advertisements due to increasing worries about cryptocurrency scams. The policy prohibited ICOs, cryptocurrency exchanges, wallets, and trading advice. The move was intended to protect users from fraudulent practices in the quickly evolving cryptocurrency space.
