google updated its financial products and services policy to allow crypto ads. however, only certain projects that meet specific criteria will be approved.
Digital ads for cryptocurrencies, exchanges and wallets are often difficult to execute. There are many policies, rules, and restrictions at companies like Meta and other world leaders in digital marketing advertising.
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Furthermore, paid marketing and advertising are essential for crypto projects to succeed. Google’s updated policy will help numerous projects achieve their marketing goals. therefore, this is a big step in the right direction for global mass adoption.
why are there such strict rules on crypto ads?
The internet is fraught to will illicit activity such as scams, spam, financial fraud, phishing, and more. Consequently, Google’s financial products and services policy protects people from avoidable financial loss.
In the defi, crypto and blockchain space, financial scams are rampant. this can be attributed to a lack of industry-wide regulation and poor due diligence on the part of investors, among other reasons. As a result, big tech has made it difficult for both legitimate projects and scammers to advertise their products and services on their platforms.
However, recently, some of these restrictions are being relaxed.
also, facebook once had a very strict policy on crypto advertising. now, the social media platform allows projects to be advertised as long as they request written approval and fall into a certain category.
what is google’s financial products and services policy?
Google’s updated policy now allows certain crypto projects to be advertised under strict conditions.
in their updated policy, google says,
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“due to the complex and ever-changing nature of regulations related to cryptocurrencies and related products and services, we only allow them to be advertised in limited circumstances”,
Similarly, Google allows crypto ads in these circumstances:
- projects that do not allow the exchange, purchase or holding of cryptocurrencies (subject to other google advertising policies).
per google policy, examples of these include:
- companies that accept cryptocurrency payments
- cryptocurrency mining hardware
- legal and tax services
- security services
- platforms that rely on blockchain for operations and do not trade or sell cryptocurrencies or tokens
- educational materials
- Crypto exchanges and wallets may advertise on google as long as:
“the advertiser is a licensed vendor, the products and ads comply with local laws and industry standards, and the account is certified by google.”
Overall, the updated policy is certainly a change that will make it much easier for many crypto companies to promote their offerings.
however, it is still a very complicated verification process.
promotion of cryptocurrency wallets and exchanges through google ads
In addition, projects must comply with any other local requirements. These new developments will be available from Jul. 2022.
Similarly, Google allows ads in specific locations, but has limited advertisers to:
- cryptocurrency exchanges can only advertise in canada
- cryptocurrency wallets and exchanges can advertise in israel, japan and usa. u.
In short, crypto projects that meet the criteria can apply for certification here. Google notes that projects wishing to advertise in multiple countries will need to apply for each country on a separate application form.
crypto ads that google doesn’t allow
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google has a non-exhaustive list of crypto projects that cannot be advertised on their platform. this includes but is not limited to:
- ads for initial coin offerings (ico)
- defi trading protocols
- crypto trading signals
- crypto investment tips
- broker reviews
is it worth advertising a crypto project on google?
Before launching an advertising campaign for a crypto project, it is imperative to have a marketing strategy in place. The needs and goals of the project will determine the type of paid-for advertising the project should choose to invest in.
There are many alternative ways to advertise a crypto project.
Paid advertising with a crypto media agency, such as beincrypto, is a guaranteed way to achieve specific advertising and marketing goals.
Buying an advertising package can build brand awareness. similarly, it can help build a community, introduce the project to a global audience, and much more. Choosing a media agency to handle the advertising needs of a project may be more beneficial to the overall success of the project.
Instead of going through the red tape of google ads, choosing an established and trusted crypto news agency will save you time and other resources in the marketing process.
closing
In conclusion, Google’s updated policy is a small but significant victory for the global mass adoption of crypto and defi as a whole.
Historically, advertising crypto projects has been difficult territory to navigate. however, the more relaxed the rules become, the better chance legitimate projects have of surviving in the long run.
That is, while google’s advertising policy is a step in the right direction, there are other methods of marketing and advertising for crypto projects to use.
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