Google Policy Update: Allows US Cryptocurrency Trust Advertisement, Gambling and DeFi Platform Ads Still Prohibited

Tech giant Google has revealed in its latest advertising policy that it will open advertising for cryptocurrency trusts for the first time in the United States starting from January next year. This coincides closely with the expected approval date of a U.S. spot Bitcoin ETF predicted by many institutions. However, the policy also mentions that advertisements related to gambling, initial coin offerings (ICOs), and decentralized finance (DeFi) protocols will not be allowed.

Google to Allow Crypto Trust Ads by End of January

Cointelegraph reported that Google updated its ad policy last week, allowing advertisers in the United States to run ads related to crypto trusts, cryptocurrencies, and related products starting from January 29, 2024.

However, Google emphasized that crypto businesses seeking to advertise must be certified by Google Ads and hold relevant licenses issued by local authorities, and comply with the laws and regulations of the target region.

Currently, the allowed ad content on Google includes:

1. Businesses not related to buying, holding, or trading cryptocurrencies: stores accepting crypto payments, crypto mining hardware, platforms running on blockchain but not marketing or selling cryptocurrencies, etc.
2. Games involving blockchain or NFTs

The following ad content is allowed only in certain countries:

1. Cold wallets: devices used to store private keys of cryptocurrencies or NFTs, without offering services for buying, selling, exchanging, or trading assets
2. Cryptocurrency exchanges and hot wallets: service providers must be authorized and their products and ads must comply with local laws

Additionally, Google prohibits ads containing:

1. Cryptocurrency or NFT gambling games: those involving real or simulated gambling environments with valuable goods at stake
2. ICO content, crypto lending services, DeFi platforms
3. Cryptocurrency trading signal services, cryptocurrency investment advice

Google also warned that violators of this ad policy will face warnings, ad disapprovals, or suspensions.

Coinciding with Bitcoin Spot ETF Approval Date?

Crypto trusts are defined as financial products that allow investors to trade trust shares holding a large amount of digital currency, a category believed to potentially include exchange-traded fund (ETF) platforms.

As such, Google's move is also seen as paving the way for the highly anticipated approval of Bitcoin spot ETFs, allowing US crypto ETF providers to advertise immediately.

Fidelity Bitcoin Spot ETF Process: Understanding the Physical Operation Model SEC is Focused On

It was reported earlier that the SEC must make a final decision on Ark Investment's application by January 10 next year, which is the earliest approval the SEC will face.

Bloomberg ETF analyst James Seyffart also predicted optimism for the progress of Bitcoin spot ETF approvals next month:

There is a 90% chance that the potential timing for the approval of Bitcoin spot ETFs will fall between January 5 and January 10, 2024.

Google Ad Policy Keeping Up with Crypto Tech Developments

It is reported that Google had already taken an open stance on crypto ads as early as August this year, allowing advertisers to promote blockchain-based games or those involving NFTs on the platform, while explicitly prohibiting content related to gambling at that time.

Additionally, Google Play has updated its store policy, enabling developers to integrate digital currencies or NFTs into their apps or games listed on the platform.