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Starting January 15, 2025, Google will introduce new restrictions and requirements for advertising cryptocurrency exchanges and digital wallets targeting the UK market. According to the new rules, advertisers who want to promote cryptocurrency exchanges or digital wallets through Google Ads must register with the UK Financial Conduct Authority (FCA) before launching advertising campaigns. This innovation is aimed at strengthening control over financial products in the UK market and ensuring stricter monitoring of cryptocurrency companies advertising through Google.
Registration with the FCA allows you to ensure that the cryptocurrency services that are advertised comply with the requirements of British law, including rules against money laundering and other financial fraud. According to the new requirements, companies that fail to register with the FCA will not be able to advertise their services through Google Ads in the UK.
At the same time, advertising of hardware wallets, devices designed to store private keys to cryptocurrencies, NFTs, and other digital assets, will remain allowed. However, an important condition is that wallet manufacturers will not be able to offer additional services, such as the purchase, sale or exchange of crypto assets through these devices. This approach allows regulating and controlling activities in the field of digital asset advertising, while supporting the development of innovative financial technologies, such as secure hardware wallets.
This rule is designed to ensure the safety of users, as the advertised products should not be associated with possible risks, such as financial schemes that may facilitate fraud or illegal activities in cryptocurrency markets. Therefore, it is important that the advertising of such products is clearly regulated and complies with the requirements of the law.
Google emphasizes that all advertisers, regardless of which country they are based in, must comply with local laws regarding the advertising of cryptocurrency products. This means that advertisers must comply not only with the requirements of British law, but also with the laws of other countries where they plan to display their ads. Therefore, every advertiser should be sure that their ads comply with the regulatory requirements of the market where they will be launched.
Google notes that these rules will apply to all advertising campaigns related to financial products of this type, and that their implementation will contribute to stricter control over advertising to minimize the possibility of fraudulent schemes, which are still a problem in cryptocurrency markets.
This is not the first change in Google’s advertising policy regarding cryptocurrency products. In 2018, Google announced a complete ban on advertising cryptocurrency services through Google Ads due to the growing number of fraud cases in the industry. This step was necessary to combat fraudsters who used advertising to promote fake cryptocurrency platforms that deceived users and took their funds.
However, in 2021, Google’s cryptocurrency policy was softened. The company allowed advertising of cryptocurrency exchanges, but only for those companies that are registered and licensed by regulators in their jurisdictions. These changes allowed cryptocurrency exchanges that comply with security standards, marketing requirements, and fight fraud to legally advertise their services through Google Ads.
The new rules introduced by Google for cryptocurrency services in the UK are part of the company’s global strategy to increase transparency and security in the financial sector. The goal of these changes is to ensure that cryptocurrency products advertised through Google meet high standards of security, regulation, and fairness.
These rules are designed to strengthen the fight against fraudulent schemes and help increase confidence in cryptocurrency platforms. As the cryptocurrency industry remains new and often falls prey to fraudsters, it is important that advertisers promoting such products comply with legal requirements and provide their customers with transparent and secure services.
The new policy also allows government and financial regulators to have more control over the activities of cryptocurrency companies that advertise online. It should help reduce the number of fake or unscrupulous offers that could harm users.