Google lifts 2018 bans on Crypto Exchange ads
Fully regulated companies can now post ads after Google’s new policy regarding the crypto exchanges' ads.
Last Wednesday, the crypto exchanges were shocked and thrilled at the same time as Google announced that it has lifted the three-year-old ban on the cryptocurrency exchanges and now they can use Google ads service.
According to a part of the policy update “Beginning August 3, advertisers offering Cryptocurrency Exchanges and Wallets targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google”. You can find it on the company’s support page.
Any exchanges that wish to be authorized to run ads using Google ads need to be registered with “FinCEN as a Money Services Business and with at least one state as a money transmitter” or “a federal or state-chartered bank entity.” Once they are registered they may expect to get services from Paxos or Anchorage.
It must be said that the new policy doesn't involve most of the crypto companies or institutions. Among this blacklist are the “ads for initial coin offerings, DeFi trading protocols, or otherwise promoting the purchase, sale, or trade of cryptocurrencies or related products”. This list doesn’t end here. Services such as ‘Signals” and analysis, news, and chart aggregators are on Google’s blacklist too.
The policies that Google has adopted so far have been controversial and have been referred to as “unfair”. There have been several cases of such apparent injustice such as the one that Google allowed certain registered crypto exchanges to advertise in Japan and the US in September 2018 or the one in January 2019 when Google ads had included “Ethereum” as a keyword to its blacklist and although Google ads have strict crypto policies, it sometimes allowed scam and phishing ads to go through.
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