Google published an announcement of upcoming changes to their cryptocurrency advertising policies and advises advertisers to make themselves aware of the changes and prepare to be in compliance with the new requirements.
The upcoming updates are to Google’s Cryptocurrencies and related products policy for the advertisement of Cryptocurrency Coin Trusts. The changes are set to take effect on January 29th, 2024.
Cryptocurrency Coin Trusts are financial products that enable investors to trade shares in trusts holding substantial amounts of digital currency. These trusts provide investors with equity in cryptocurrencies without having direct ownership. They are also an option for creating a more diversified portfolio.
The policy updates by Google that are coming in 2024 aim to describe the scope and requirements for the advertisement of Cryptocurrency Coin Trusts. Advertisers targeting the United States will be able to promote these products and services as long as they abide by specific policies outlined in the updated requirements and that they also obtain certification from Google.
The updated policy changes are not limited to the United States. They will apply globally to all accounts advertising Cryptocurrency Coin Trusts.
Google’s announcement also reminded advertisers of their obligation for compliance to local laws in the areas where the ads are targeted.
Google’s approach for violations of the new policy will be to first give a warning before imposing an account suspension.
Advertisers that fail to comply with the updated policy will receive a warning at least seven days before a potential account suspension. This time period provides advertisers with an opportunity to fix non-compliance issues and to get back into compliance with the revised guidelines.
Advertisers are encouraged to refer to Google’s documentation on “About restricted financial products certification.”
The deadline for the change in policy is January 29th, 2024. Cryptocurrency Coin Trusts advertisers will need to pay close attention to the updated policies in order to ensure compliance.
Read Google’s announcement:
Updates to Cryptocurrencies and related products policy (December 2023)