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The change will permit advertisements about cryptocurrency coin trusts in the United States, aligning with the expected approval of spot Bitcoin exchange-traded funds (ETFs) in the country.
Outlined in their December 6 policy change log, <a href="https://financefeeds.com/supra-and-google-partner-to-bring-fast-price-feeds-to-financial-markets/" rel="noopener noreferrer nofollow">Google</a> will update its crypto and related products ad policy to allow ads from certified advertisers offering cryptocurrency coin trusts targeting the U.S. market. These trusts are described as financial products enabling investors to trade shares in trusts holding large pools of cryptocurrencies, which likely covers ETFs.
<a href="https://financefeeds.com/google-searches-for-crypto-com-and-gate-io-exploded-by-300-amid-ftx-collapse/" rel="noopener noreferrer nofollow">Google's policy revision</a> is a notable shift from its previous stance and is part of an ongoing update process to its crypto advertising regulations. The tech giant has progressively relaxed its rules around crypto-related ads. For instance, in September, Google allowed the promotion of NFT games, and in April, it permitted advertising for hardware wallets. Additionally, June 2021 saw an update that enabled the promotion of crypto software wallets and exchanges in the U.S.
“As a reminder, we expect all advertisers to comply with the local laws for any area that their ads target. This policy will apply globally to all accounts that advertise these products,” the internet giant added.
The policy change will be applied globally across all Google accounts, with advertisers required to continue adhering to local laws in the markets they target. Google warned that violations of this policy would not result in immediate account suspension without prior notice, offering a minimum seven-day notice before any suspension.
This update coincides with a critical period for the <a href="https://financefeeds.com/bloomberg-hashdex-expect-secs-imminent-approval-of-bitcoin-etfs/" rel="noopener noreferrer nofollow">cryptocurrency industry in the U.S.</a> The Securities and Exchange Commission (SEC) is expected to make decisions on several applications for spot bitcoin ETFs from firms like <a href="https://financefeeds.com/blackrock-taps-coinbase-custodian-for-its-ethereum-etf/" rel="noopener noreferrer nofollow">BlackRock</a>, Bitwise, WisdomTree, Invesco, Fidelity, Valkyrie, and VanEck by mid-January. Additionally, the SEC is reviewing Grayscale’s Bitcoin Trust (GBTC) product after a directive from the U.S. Court of Appeals for the D.C. Circuit to reconsider Grayscale’s application to convert its <a href="https://financefeeds.com/grayscales-ethereum-etf-stalls-sec-extends-review-to-january-2024/" rel="noopener noreferrer nofollow">GBTC fund</a> into a spot bitcoin ETF.

Google amends crypto ad policy ahead of ETF approvals

FinanceFeeds

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