Google lifts advertising ban on cryptocurrency exchanges and wallets for 2018

On Wednesday, the online advertising giant Google, Removed an almost three-year-old policy that prohibited the exchange of cryptocurrencies from using its advertising services.

“Beginning August 3rd, advertisers offering US-targeted cryptocurrency exchanges and wallets will be able to advertise these products and services if they meet the following requirements and are certified by Google.” reads an update to the policy on the company’s support page.

The requirements that exchanges must meet include the need to be registered with “FinCEN as a money service company and with at least one state as a money transmitter” or “a federal or state bank institution”, which could open the door to advertising for services like Anchorage and Paxos.

Google lifts advertising ban on cryptocurrency exchanges and wallets for 2018
Google lifts advertising ban on cryptocurrency exchanges and wallets for 2018

However, the new policy won’t open the door to the vast majority of cryptocurrency institutions since “Announcements of Initial Coin Offerings, DeFi trading protocols or in any way advertising for the purchase, sale or trading of cryptocurrencies or related products” remain prohibited. News and chart aggregators as well as feed and analysis services also remain on the ad blacklist.

Google’s guidelines on crypto-related ads have often been inconsistent and have sometimes been labeled “unfair” by experts. The search giant has the ban on stock market advertising is lifted, in one place had “Ethereum” as a word on the blacklist in advertisements, and despite strict guidelines still occasionally allowed fraudulent projects to creep in.

The new advertising policy means that crypto fans in the US could soon be bombarded with advertising. Binance.US and FTX are currently fighting for market share in the USA, FTX in particular is willing to spend on unconventional advertising space. Earlier this year it was announced that FTX bought the naming rights to the Miami Heat headquarters from the National Basketball Association, soon to be the FTX Arena, by 2040.

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