Google has announced plans to lift a ban on advertising cryptocurrency wallets and exchanges that has been in place for almost three years. A ban on advertising initial coin offerings will remain, however.
Fast Facts:
- An advertising policy update on the company’s main webpage states that advertisers of crypto wallets and exchanges targeting the US market must be registered with the Financial Crimes Enforcement Network or a federal- or state-chartered entity. They must also comply with state and federal legal requirements, and any ads and landing pages must follow Google’s advertising policies.
- In a statement, Google said it was making the change to “better match existing FinCEN regulations and requirements.”
- Both Google and Facebook put in place similar bans on the advertising of ICOs in 2018 amid concerns expressed by US regulators over deceptive advertising targeting investors. Under most circumstances, advertising for crypto mining services, including the sale of mining equipment, has remained broadly unaffected.