Google has gone back to running crypto ads after its updated financial products and services policy went into full effect on August 3. This comes three years after the tech giant banned crypto and Initial Coin Offering (ICO) related advertisement back in June 2018.
This updated policy from Google will now see regulated crypto firms allowed to market their services once again. However, ICOs seem to have been left out with the ban only being lifted for cryptocurrencies.
This change is meant to provide additional revenue for Google’s parent company Alphabet. This is despite the fact that crypto ds will just be able to provide a small percentage of the firm’s $147 billion in advertising revenue.
These ads will be allowed under strict requirements designed to “weed out shady advertising and blatant crypto scams.” The updated policy states that these ads will now be allowed to link to websites that host “cryptocurrency trading signals, cryptocurrency investment advice, aggregators or affiliate sites.”
The ban lift comes at a time when the crypto world has faced an all-time upward trajectory in value and popularity across the world. The likes of Bitcoin, Dogecoin and Ethereum have seen the faces of both ends with values fluctuating insanely in the last few weeks.
This has seen many platforms including payment service firms start to experiment with digital currencies as modes of payment.
Unfortunately, other sites like TikTok have begun banning crypto-based promotional content. According to TikTok, this is part of a move to stop all financial services and products from being advertised on the platform.