Google is one of the most well-known and utilized search engines in the entire world. People from nearly every country have used it or, at the very least, heard about it in some way, shape or form. However, Google itself has not always been supportive of cryptocurrency, but that has now changed as the company has decided to finally remove the ban on various digital wallets as well as cryptocurrency exchanges. The exchanges will now be able to utilize Google Ads services following continuous restrictions for a period of nearly three years.
Simultaneously, Google will also be maintaining the ban on the promotion of ICOs (Initial Coin Offerings) and will additionally be keeping the ban on the advertising of decentralized finance (DeFi) based protocols. Lastly, it will also not be accepting any kind of advertisements that may promote advice pertaining to investments as well as trading signals. The comparison of various crypto issuers will also be prohibited.
Update to arrive in August
As per the document, Google shall update its terms and services policy alongside its respective financial products this coming August. The goal of this update is to provide further clarification regarding crypto exchanges and all of the various requirements that will need to be adhered to in order to enable advertisements via the platform.
As such, a few of these requirements shall involve registration via FinCEN as well as being forced to comply with every single legal requirement which may be deemed relevant as well as the Google Ads related terms and policies. Furthermore, it will only be the crypto exchanges based in the U.S that shall be permitted to carry out the promotions via Google. For now, however, some restrictions may still remain.
It had been during the month of March back in 2018 that Alphabet Inc., a subsidiary, had listed various ‘legal issues as the reason behind its decision to effectively implement a ban and administer stricter policies on the use of cryptocurrency ads. This ban had included wallets, exchanges, ICOs and various other crypto-related services.
It had not been until September of that same year that a portion of the cryptocurrency-related ads was allowed to resume, which had granted regulated trading platforms with the ability to successfully make purchases both in Japan as well as the United States of America.