In a surprise move today, online advertising giant Google has lifted a nearly three-year-old policy prohibiting cryptocurrency exchanges from using its advertising services.
“Starting August 3, advertisers offering cryptocurrency exchanges and wallets targeted to the United States may advertise products and services if they meet the following requirements and are certified by Google,” reads a policy Update On the company’s support page.
Requirements to pass exchanges include needing to be “registered with FinCEN as a money services business and as a money transmitter with at least one state” or “a federal or state chartered bank entity”, potentially open the door Ads for services like Anchorage and Paxos.
The new policy will not open the door to the vast majority of crypto institutions, however, “advertisements advertising initial coin offerings, DeFi trading protocols, or otherwise promoting the buying, selling or trading of cryptocurrency or related products” are all prohibited. News and chart aggregators as well as “signals” and analysis services remain on the advertising blacklist.
Google’s policies regarding crypto ads have often been conflicting, and at some point experts have described them as “inappropriate.” during 2018 The search giant flip-flopped over an Exchange ad ban, at one point Ads Had “Ethereum” As Blacklisted Word, and despite strict policies still sometimes let scam projects slip away.
The new advertising policy means that US-based crypto aficionados could soon be bombarded with ads. Binance US and FTX are currently struggling to gain stateside market share, with FTX particularly willing to spend on unconventional advertising spaces. Earlier this year it was announced that FTX The National Basketball Association bought the naming rights to the Miami Heat’s home. By 2040, the soon-to-be FTX sector.