After announcing an advertising policy update in December, Google has implemented changes, permitting select cryptocurrency finance products, including recently approved Bitcoin ETFs, to feature sponsored links on its platforms. This has led to the swift adoption of advertising by bitcoin ETF issuers such as Vanesh and Blackrock on Google.
Google Allows Ads for Bitcoin ETFs, Updates Crypto Policies
Google, the prominent software and advertising giant, has recently implemented changes to its advertising policies. This adjustment now permits specific cryptocurrency finance products to be featured in ads and sponsored links on the platform.
The company’s decision to enact this shift was initially announced in December, emphasizing a focus on clarifying the “scope and requirements for the advertisement of cryptocurrency coin trusts.”
Google’s modification allows third parties targeting the U.S. market to advertise financial products facilitating the trading of shares in trusts holding substantial amounts of digital currency, including recently approved bitcoin ETF products.
However, it’s crucial to note that these advertisements must adhere to local laws in the targeted regions, as Google enforces strict compliance with local regulations for all accounts promoting such financial products.
This move reflects Google’s ongoing efforts to strike a balance between embracing emerging financial instruments and ensuring regulatory compliance across its advertising platform.
Google Eases Crypto Ad Ban for Bitcoin ETFs, Maintains Restrictions on NFT and Crypto Sales Ads
Following the lifting of the ban on advertising cryptocurrency coin trusts, companies such as Vaneck and Blackrock are quick to seize the opportunity, incorporating sponsored links and ads to attract users to invest in their Bitcoin ETF products. Notably, this policy update does not extend to other categories; ads related to non-fungible tokens (NFTs) and cryptocurrency sales remain prohibited on the platforms.
The continued ban encompasses various areas, including ads for initial coin offerings (ICOs), decentralized finance (defi) protocols, and those promoting cryptocurrency transactions. Additionally, advertisements for games that involve gambling or wagering through NFTs, along with promotions for gambling casinos offering NFT-based rewards, remain restricted.
Despite these measures, there have been instances of attackers exploiting phishing ads on Google and X to disseminate malware, resulting in the siphoning of over $58 million in cryptocurrency. Reports from Scam Sniffer, an anti-scam solution, highlight the ongoing challenges of maintaining security within the evolving landscape of crypto advertising.
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