Google has updated its advertising policies, permitting the promotion of select cryptocurrency products on its primary platform.
This policy change is poised to have a substantial impact on spot Bitcoin exchange-traded funds (ETFs), with industry experts speculating that these products may align seamlessly with the updated criteria.
The primary focus of this policy revision is to bring clarity to the promotion of Cryptocurrency Coin Trusts. According to the updated guidelines, advisers and advertisers targeting the U.S. market are now allowed to advertise their projects.
To ensure compliance, the policy introduces a warning system for violators. Any potential violator will be issued a warning at least seven days before the possibility of account suspension.
This grace period allows advertisers to rectify any non-compliance issues and align with the updated guidelines.
The move by Google comes in the wake of the recent approval of 11 spot Bitcoin ETFs by the United States Security and Exchange Commission (SEC), signaling a growing acceptance and integration of cryptocurrency products into mainstream financial markets.
Already, advertisements for BlackRock’s spot Bitcoin ETF are surfacing following Google’s updated guidelines. This development is anticipated to foster greater visibility for crypto-related financial products, providing a boost to the industry and expanding the reach of digital assets among mainstream audiences.
Google’s treatment of crypto over the years has been mixed. On one hand, Google has shown commitment to crypto by partnering with Coinbase and hiring a former PayPal executive to run its payments division, which includes cryptocurrencies. On the other hand, Google, along with Twitter and Facebook, banned cryptocurrency advertising.
Additionally, Google’s cloud computing section started a digital assets division, but some see this as a sign that Google is not betting heavily on Web3 like Meta is.
Despite these mixed signals, Google’s treatment of crypto seems to be similar to how it treats other industries, as a customer for its services.
