Google has recently announced updates to its crypto ads policy in the UK, implementing stricter requirements for advertisers looking to promote crypto services and products. Under the new rules, crypto exchanges and software wallet providers must register with the Financial Conduct Authority (FCA) before they can advertise on Google’s platform.
However, hardware wallet advertising is subject to different regulations. Advertisements for hardware wallets are allowed without FCA registration as long as the devices are used solely for storing private keys and do not facilitate trading or exchange services.
All advertisers must also obtain Google certification and adhere to local regulations in their target markets. The updated policy, effective January 15, applies to all accounts advertising financial products globally.
This is not the first time Google has adjusted its cryptocurrency advertising policy. In 2018, all crypto-related ads were banned due to concerns about scams. The restrictions eased in 2021, allowing ads from regulated crypto exchanges and wallet providers under specific conditions.
The shift in policy came after the introduction of spot Bitcoin ETFs in the US. In late 2023, Google announced further updates to its ads policy, permitting ads for “Cryptocurrency Coin Trusts” starting January 29. This change coincided with the SEC’s approval of spot Bitcoin ETFs for trading on January 10.
These developments reflect the evolving landscape of crypto advertising and regulation, as companies like Google strive to balance innovation with consumer protection. Stay tuned for more updates on how these changes will impact the crypto industry in the UK and beyond.