Recently, Google Ads announced updated guidelines and advertising requirements for cryptocurrency traders. Beginning on August 3, 2021, advertisers targeting American markets are required to comply with the new requirements to continue advertising on Google Ads – the new certification application was made available on July 8, 2021.
According to Google, advertisers must ensure their registry under the US’s Financial Crimes Enforcement Network as a Money Services Business and have at least one state as a money transmitter. Advertisers must comply with all legal requirements necessary, including those at the local, state, and federal levels.
The company also elaborated that different advertisement types must comply with the new policies. Google also announced that all prior certifications on Cryptocurrency exchange will be revoked by August 3. Even if you had a Cryptocurrency Exchange certification that had previously been approved, you will now need to request a new Cryptocurrency Exchanges and Wallets certification by submitting the application that went live on July 8.
The company insists that restrictions will still be in place with certain kinds of ads promoting specific services and businesses. According to Google, these elements are considered banned enterprises:
- Advertisements that promote selling, purchasing, and trading cryptocurrencies or related virtual monetary items, such as De-Fi trading, cryptocurrency endorsements, unregulated D-Apps, and un-hosted wallets, to name a few.
- Advertisements and sites that enable users to compare trading and value data and metrics, investment advice, broker reviews, trading signals, and affiliate sales of different products apart from the user’s preferred cryptocurrency.
Meanwhile, Google’s current financial products and services policy still stands. It states: “We consider financial products and services to be those related to the management or investment of money and cryptocurrencies, including personalized advice.” Google currently only allows cryptocurrencies to be advertised in limited circumstances. For example, advertising is allowed for cryptocurrency mining products and services as long as user consent is explicitly obtained.
Regarding cryptocurrency exchanges, Google only allows advertisements from licensed providers that comply with local lawns and industry standards. Currently the only approved countries to advertise cryptocurrency exchanges are the United States and Japan.
Google has engaged in continuously shifting its cryptocurrency advertising policies since 2018. Initially banning crypto advertising in 2018, the company lifted the ban on cryptocurrency ads later the following year.
In its company policy created in June 2018, Google required advertisers to comply with the following requirements:
- Ensuring that they are registered under their target countries’ financial institutions for licenses.
- Having their ads and landing pages meet company standards and policies.
- Securing legal documents and requirements relating to financial products and services.
Even if your cryptocurrency company has met all the standards the following types of ads are still not allowed by Google:
- “Ads for initial coin offerings, cryptocurrency token sales, or otherwise promoting the purchase, sale, or trade of cryptocurrencies or related products”
- “Ad destinations that aggregate or compare issuers of cryptocurrencies or related products”
The cryptocurrency market is highly complex and continuously evolving, so it’s important to stay on top of the latest policy updates to make sure you are advertising your crypto products and services in the most effective way possible.
Are you a crypto business curious about how you can improve the Google Ads performance for your business? As a Google Premier Partner, JXT Group can help your business with the latest, cutting-edge strategies to optimize your Google Ads campaigns.
Find out more by setting up a call with one of our digital marketing experts. Just give us a call at 718-690-7302 or submit our online contact form.
