Google is often rather restrictive with regards to which kinds of services are allowed to utilize its ad space, and this has often been criticized as slowing down innovation in a few respects. A big example of this can be seen with the various crypto exchanges of the world which often weren’t really given the chance to advertise and were instead forced to make do with other means of getting their message across.
The great news here is that Google is finally lifting this restriction, which means that crypto exchanges will for the most part now be able to advertise on Google Ads with ease although they might have to adhere to a few regulations that Google is putting in place. The first requirement is that the company needs to be registered, and furthermore it will have to comply with the various laws and regulations that the US government has passed regarding this kind of activity. The company will have to be registered as a money transmitting business on the state level, or if not that then some kind of federal regulatory will need to offer a form of approval instead.
Google is clearly still wary about how crypto can be used in various kinds of scams that would impact the unsuspecting internet user, and as a result of the fact that this is the case the company is not going to offer certain types of ads based on their likelihood to be a part of such scams and the like. Initial coin offerings cannot be advertised, nor can crypto loans. This indicates that Google views such phenomena as inherently predatory, and this leads the company to want to restrict the ability of such things to be advertised on their platform in order to maintain their own image to an extent.
Also, Google is not going to be allowing any kind of cryptocurrency advice to be advertised. Basically, only an exchange that is offering a basic service has the option to advertise using Google Ads, and the various other aspects of this erstwhile shady industry is not really being given the green light. This shows that while crypto is becoming widely accepted, there is still a lot of trepidation surrounding it especially when it comes to big companies like Google that will be held to account if their platform ends up getting used to promote some kind of scam.
Read next: Cryptocurrency and Public sentiment: How consumers are adopting virtual money in 2021?
The great news here is that Google is finally lifting this restriction, which means that crypto exchanges will for the most part now be able to advertise on Google Ads with ease although they might have to adhere to a few regulations that Google is putting in place. The first requirement is that the company needs to be registered, and furthermore it will have to comply with the various laws and regulations that the US government has passed regarding this kind of activity. The company will have to be registered as a money transmitting business on the state level, or if not that then some kind of federal regulatory will need to offer a form of approval instead.
Google is clearly still wary about how crypto can be used in various kinds of scams that would impact the unsuspecting internet user, and as a result of the fact that this is the case the company is not going to offer certain types of ads based on their likelihood to be a part of such scams and the like. Initial coin offerings cannot be advertised, nor can crypto loans. This indicates that Google views such phenomena as inherently predatory, and this leads the company to want to restrict the ability of such things to be advertised on their platform in order to maintain their own image to an extent.
Also, Google is not going to be allowing any kind of cryptocurrency advice to be advertised. Basically, only an exchange that is offering a basic service has the option to advertise using Google Ads, and the various other aspects of this erstwhile shady industry is not really being given the green light. This shows that while crypto is becoming widely accepted, there is still a lot of trepidation surrounding it especially when it comes to big companies like Google that will be held to account if their platform ends up getting used to promote some kind of scam.
Read next: Cryptocurrency and Public sentiment: How consumers are adopting virtual money in 2021?
