Google To Loosen Restrictions on Crypto Ads, Will Allow Promotion of ‘Cryptocurrency Coin Trusts’

Google has announced it’s updating its policy on allowing advertisements related to cryptocurrencies worldwide.

According to a new update from the company, the search giant will update its policy on crypto in January 2024 to address the advertising rules for what it calls Cryptocurrency Coin Trusts.

According to the announcement, US advertisers will be able to promote Cryptocurrency Coin Trusts through Google ads if they meet the criteria and receive Google certification.

According to Google, Cryptocurrency Coin Trusts are investment vehicles that allow investors to trade shares in trusts that hold various digital currencies. Google says the update emphasizes its commitment to complying with local laws and to align with the expected approval of spot Bitcoin (BTC) exchange-traded funds (ETFs).

The policy will make allowances in advertising for businesses indirectly involved in cryptocurrencies, such as those that accept cryptocurrency payments, produce crypto mining gear, or offer Web3 and blockchain educational materials.

However, strict regulations will still apply to non-fungible token (NFT) gaming and other specific crypto products based on what the products are offering.

Advertisements for hardware wallets and other crypto-related services will be allowed and subject to certain conditions. The policy also explicitly prohibits ads for initial coin offerings (ICOs), decentralized finance (DeFi) services, and the purchase, sale, or trade of specific cryptos.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Featured Image: Shutterstock/PLST_4D