Google allows cryptocurrency exchanges to use its ad services again
No matter what could happen to the market as a whole, it seems that Google has just made a move in the right direction to help the crypto world get back on its feet. Back in 2018, the online advertising giant banned cryptocurrency exchanges from using its ad services. A fresh policy change has just surfaced and it will go live in early August.
According to the aforementioned policy update, "Beginning August 3, advertisers offering Cryptocurrency Exchanges and Wallets targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google."
Fortunately, this will not allow all scams to start advertising using Google's services. To qualify for Google's certification, the services must be registered with FinCEN as a Money Services Business and with at least one state as a money transmitter. Federal or state-chartered bank entities should also get the certification without breaking a sweat.
Sadly, many popular crypto services/apps will remain on the blacklist. The list includes ads for initial coin offerings, DeFi trading protocols, as well as anything that involves the purchase, sale, and trade of cryptocurrencies or related products.
Remains to see how scammers will manage to find their way through this time. Nevertheless, Google's move is quite surprising and, in the end, it might bring a much-needed boost to a market that seems to be struggling these days.
Buy CRYPTO RICH: A Beginners Guide to Cryptocurrency Investing (Paperback) on Amazon