In an official communication released in June 2021, Google confirmed that beginning August 3rd, a new update on “the scope and requirements to allow the advertisement of cryptocurrency-related to business and services” will be published.
This doesn’t mean that Google will openly and broadly welcome anyone to the sector, as there will be extra-governmental requirements for authorized companies whose audience is based in the United States.
Obviously, the issuing of new policies on crypto ads by giants such as Google will affect the marketing communication of your business.
Continue scrolling to learn more about the effects of Google’s announcement and how to get the most out of it with AmaZix.
Google’s Reaction to the New Financial Ecosystem
The major inflation of the bitcoin trading price in — what became a historic month for the cryptocurrency — December 2017 brought, among other consequences, unusual web traffic to firms featuring in crypto ads. This moment stirred masses with utter excitement, and everyone’s eyes were set on the emerging market, attracting hefty amounts of investment-driven over speculation and promise. But this didn’t last too long — two months later, the bitcoin’s price dropped by 60%, and it was then when Google and other large tech companies reacted with deterrent policies.
Google’s First Strike at Crypto Ads
After the media frenzy around the price volatility of bitcoin ebbed, Scott Spencer, the Vice President, Ads Privacy & Safety at Google, declared:
“We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution.”
Google banned crypto ads following Scott’s statement in March 2018.
In the next six months, Google deactivated the ads prohibition for regulated crypto exchanges only in the United States and Japan. This decision paved the way for platforms like Binance and FTX to boost their exposure and lead the market to this day.
Ever since, Google had not intended to modify its ad policies until last month, when they released the communication cited above, which, didn’t come as a surprise for the crypto market is growing more potent than ever, and it doesn’t seem to leave the financial game anytime soon.
Make Google-Crypto Relationship Great Again
After analyzing the crypto ad platform for three years, Google has updated its exchange-only ads policy, which now consists of the following.
1. Be duly registered with:
- FinCEN as a Money Service Business and with at least one state as a money transmitter, or
- A federal or state-chartered bank entity.
2. Comply with relevant legal requirements, including any local legal requirements, whether at a state or federal level.
3. Ensure ads and landing pages comply with Google ads crypto policy.Also, all prior cryptocurrency exchange certifications will be revoked on August 3, 2021. Advertisers must request new Cryptocurrency Exchanges and Wallets certificates with Google when the application form is published on July 8, 2021.
Google’s restrictions are separated into two groups:
1. Ads for initial coin offerings, DeFi trading protocols, or other promoting the purchase, sale, or trade of cryptocurrencies or related products.
Example (non-exhaustive): ICO pre-sales or public offerings, cryptocurrency loans, initial DEX offerings, token liquidity pools, celebrity cryptocurrency endorsements, unhosted wallets, unregulated dApps.
2. Crypto ads destinations that aggregate or compare with issuers of cryptocurrencies or related products.
Example (non-exhaustive): Cryptocurrency trading signals, cryptocurrency investment advice, aggregators, or affiliate sites containing related content or broker reviews.
As a reminder, Google expects advertisers to comply with the local laws where ads will show. This policy will apply globally to all accounts that advertise these financial products. For more details, see the section About restricted financial products certification.
While it all sounds like a step forward in the cryptoverse, Google’s new update, which opens doors only to regulated cryptocurrency exchanges, unveils that a large variety of crypto companies continue to be excluded in the Google ads crypto policy. Prioritizing some businesses to place their ads in Google will lead to a visibility gap between those endorsed by Google and those that aren’t. But AmaZix can elevate your PPC advertising strategy, so you’re always visible, regardless of Google’s policies.
Ditch Google and Maximize Your Online Exposure with AmaZix
The new Google ads crypto policy confirms that the company continues to hold on to its cautious attitude towards the crypto market since Spencer’s communication in 2018 has been publicly adopted.
The price of bitcoin, the primary indicator of the market, poses a threat to companies within and outside the crypto ecosystem due to its natural volatility.
AmaZix is a specialized blockchain marketing agency that has witnessed and bolstered the developments of the market since its early years. Our combined 75 years of proven work are reminiscent of the aptitudes of our PPC-crypto specialists able to spot the best opportunities for our clients.
Our analysis and keyword research (as part of our crypto marketing services) have proven to drive high conversion rates to our client’s business, and our specialization in crafting PPC campaigns is only getting more and more refined — like the market’s self-governance.
Additionally, AmaZix creates and runs state-of-the-art ads that optimize engagement in our client community — partly and thankfully — because of our skillful designers who epitomize everyone’s work in cutting-edge animation ads. Also, we work under the policy and compliances for PPC’s campaigns and under the guidelines of government and the vast network of marketing channels we have available.
Let AmaZix’s specialists craft the best crypto ads for you. Contact us today and bring your online presence anywhere you want!