The search engine enables advertisers to offer exchanges and wallets to American users
Starting August 3, advertisers offering crypto exchange and wallet services can use Google to target users from the United States. The search engine made this clear, but stated that advertisers must meet a number of requirements before they can serve their ads to US-based customers.
According to the search engine giant, only federal or state-approved banking institutions can serve U.S. users ads for cryptocurrency exchanges and wallet services. In addition, the companies must comply with the relevant legal requirements at both state and federal level. They also need to make sure that their ads and landing pages comply with all Google Ads guidelines.
Although Google will allow crypto exchanges and wallet providers to run ads and target US customers, it has shown that its ban on Initial Coin Offerings (ICO) remains in place. Google also said that ads promoting Decentralized Financial Protocols (DeFi) are not allowed. It also does not allow ads that contain investment advice, trading signals, or compare different issuers of cryptocurrencies.
Alphabet Inc.’s subsidiary banned cryptocurrency-related ads in March 2018, making it impossible to advertise initial coin offerings, exchanges, wallets, and various other cryptocurrency-related services.
After its ban in March 2018, Google lifted some bans and allowed regulated cryptocurrency trading platforms to buy them in the US and Japan. Despite Google’s ban, crypto trading platforms have seen massive growth in recent years.
The performance of the market has drawn millions of people into the market, with most crypto exchanges hitting a record number of users in the past few months. With the market performance, the crypto industry has also welcomed numerous financial institutions in different parts of the world.