In a changelog update today, Google Ads announced updates to the scope and requirements for cryptocurrency ads to be allowed on the platform. Starting August 3, crypto exchange and wallet advertisers must meet new requirements and be certified by Google in order to be eligible to advertise on the platform.
New policies. Financial advertisers will need to check the following boxes to be able to advertise on Google Ads:
- Be duly registered with
- (a) FinCEN as a Money Services Business and with at least one state as a money transmitter; orÂ
- (b) a federal or state-chartered bank entity.Â
- 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
Your existing certs will be revoked. Any previously approved Cryptocurrency Exchange certifications will be revoked as of August 3. Advertisers will need to request new Cryptocurrency Exchanges and Wallets certification with Google Ads.
The new certification application form will be published on July 8, 2021.
Restrictions still exist. While exchanges and wallets will be able to advertise in Google Ads after meeting the above requirements, the following ad types will not be approved:
- 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
Crypto advertising changes are not new. Google has recently gone back and forth with policies around ads for crypto exchanges and wallets. In early 2018, Google originally banned crypto advertising, but rolled back that ban later in the same year, “allowing for crypto exchanges to become certified advertisers on the platform for the U.S. and Japanese markets,” said Michael McSweeney for The Block.
Why we care. If you’re a crypto advertiser, mark your calendar for July 8 when the new application form goes live. If you miss the deadline for getting your updated exchange certification, your ads will be removed from Google.