– Google is updating its crypto ad policy effective January 29, 2024
– Specifically targeting Cryptocurrency Coin Trusts
– Advertisers must comply with local laws and guidelines to be certified by Google
– Violations of the policy will result in warnings and potential account suspension
– The update aims to safeguard customers from crypto investment dangers and provide trustworthy information
– Google’s certification is a mandatory seal of approval for crypto and financial promotions
– In 2018, Google banned all cryptocurrency-related ads
– In 2019, it relaxed the ban for regulated crypto platforms
– In September, Google amended its ad policy on blockchain-based NFT ads
– The ban remains intact for gaming ads where players stake NFTs to win cryptos
– The change comes at a time of increased crypto ad scams targeting 25-34-year-olds via social media
– The report noted that 66% of all crypto investment scams start on social media ads
Title: Google Updates Crypto Ad Policy to Enhance Advertising Standards
– Google is updating its crypto ad policy to improve its advertising standards, effective January 29, 2024.
– The revision targets Cryptocurrency Coin Trusts, a financial product allowing investors to trade in trusts holding large cryptocurrency pools.
– Advertisers are required to align with guidelines and local laws to be certified by Google.
Policy Update and Certification:
– Advertisers must comply with local laws and regulations for all areas targeted by their ads.
– Violations of the updated policy will result in warnings and potential account suspension.
– Google’s certification is a mandatory seal of approval for credible and compliant crypto and financial promotions.
History of Google’s Crypto Ad Policies:
– In 2018, Google banned all cryptocurrency-related ads due to caution.
– The ban was relaxed in 2019, allowing regulated crypto platforms to advertise.
– Policy updates in 2021 also addressed blockchain-based non-fungible token (NFT) ads.
Rise in Crypto Ad Scams:
– The policy change comes amidst an increase in crypto ad scams, with a report noting that 66% of scams start on social media ads.
– Scams increasingly target 25-34-year-olds.
– Google’s policy update aims to safeguard customers from crypto investment dangers and provide trustworthy information.
– The certification ensures that Google’s platform serves as a credible space for crypto and financial promotions.
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