Google has finally executed an advertising policy update announced in December, allowing some cryptocurrency finance products, like the recently approved bitcoin ETFs, to include sponsored links on its platforms. Consequently, some bitcoin ETF issuers, like Vaneck and Blackrock, are already posting ads on Google.
Google Changes Crypto Policies, Allows Bitcoin ETF Ads
Google, the software and advertisement company, has changed its advertising policies, allowing some cryptocurrency finance products to be featured in ads and sponsored links on its platform. The company announced this move in December when it announced this would focus on clarifying “the scope and requirements for the advertisement of cryptocurrency coin trusts.”
At the time, Google remarked that it would allow third parties targeting the U.S. market to advertise “financial products that allow investors to trade shares in trusts holding large pools of digital currency,” like the recently approved bitcoin ETF products. However, these ads would still have to comply with local laws for areas targeted by them, as Google enforces this requirement for all accounts advertising this kind of product.
As a result of the lift of this ban for advertising cryptocurrency coin trusts, several companies are already including sponsored links and ads to lure users to invest in their Bitcoin ETF products, including Vaneck and Blackrock.
However, other non-fungible token (NFT) and cryptocurrency sales-related ads remain banned from the platforms. These include ads for initial coin offerings (ICOs), defi protocols, or ads promoting cryptocurrency purchase, sale, or trade. Also, ads for games that promote gambling or wagering through the use of non-fungible tokens (NFTs), and the promotion of gambling casinos offering NTF-based rewards are still not allowed.
Even with these precautions, attackers have been using phishing ads on Google and X to distribute malware and siphon over $58 million in crypto, according to reports from Scam Sniffer, an anti scam solution.
What do you think about the change in Google’s cryptocurrency advertising policies? Tell us in the comments section below.
