Google Changes Cryptocurrency Advertising Policy: Just The Facts

Google recently announced that it will initiate an “update [to] the financial products and services policy to clarify the scope and requirements to allow the advertisement of cryptocurrency related business and services” across the Google platform. The update will go into effect in August, replacing the existing cryptocurrency advertising policy, which has been in effect since 2018. According to Emily Mason, reporting for Forbes, “the new policy will apply globally to Google search and its third-party sites, including YouTube, Gmail or Blogger.”

What Is Google’s New Cryptocurrency Policy?

The updated Google policy for advertising cryptocurrency will require “advertisers offering cryptocurrency exchanges and wallets targeting the United States” to meet certain requirements and certifications if they wish to advertise those products and services within Google platforms. According to Google, to comply with the new “Cryptocurrency Exchanges and Wallets certification” advertisers must:

Be duly registered with

(a) FinCEN as a Money Services Business and with at least one state as a money transmitter; or 

(b) a federal or state chartered bank entity. 

Comply with relevant legal requirements, including any local legal requirements, whether at a state or federal level.

Ensure their ads and landing pages comply with all Google Ads policies

Will Current Cryptocurrency Google Advertisers Be Exempt From The New Policies?

There are no exemptions to the new Google cryptocurrency advertising policy, and any prior “Cryptocurrency Exchange certifications” held by advertisers will be revoked on August 3. In order to continue advertising, advertisers must meet the guidelines of the new Google cryptocurrency exchanges and wallets certification. 

Are There Any Advertising Restrictions For Cryptocurrency Advertisers Certified With Google After August?

Yes. Even after meeting the updated requirements of the Google Cryptocurrency Exchanges and Wallets Certification, there will still be restrictions in place for cryptocurrency advertisers on Google. According to Google, it will not allow:

• Ads for initial coin offerings, DeFi trading protocols, 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

How Should Cryptocurrency Advertisers Prepare For Google’s New Cryptocurrency Certification & Advertising Guidelines?

Google has had a back and forth relationship with crypto advertising, initially refusing any cryptocurrency advertising at all, before settling on the current, and soon to be revised, certification policy. For crypto advertisers, compliance is essential to continue advertising. Applications for the new Google cryptocurrency certification open July 8, and the new guidelines are available for viewing now.

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