The new advertising policies are designed to comply with the country’s FCA rules
Google is introducing stricter policies for cryptocurrency advertisements in the UK, set to take effect on January 15, 2025. Many companies in the industry that use advertising services through this giant will have to rush to make the necessary changes and be in line with the upcoming policies.
The move will require companies promoting digital asset exchanges and wallets to register with the UK’s Financial Conduct Authority (FCA) before their ads can appear on the platform. This step aligns with growing regulatory oversight aimed at curbing unauthorized promotions and ensuring compliance with local laws.
Under the new policy, Google will allow advertisements for crypto exchanges and software wallets only if they meet FCA registration requirements. Additionally, the platform will permit ads for hardware wallets, provided they are limited to storing private keys for cryptocurrencies, NFTs, or other digital assets. These hardware wallet advertisers must avoid offering services like buying, selling, or trading crypto.
Google emphasized that advertisers must adhere to the regulations of the regions they target. This policy applies not only to the UK but will also have a global impact on accounts promoting financial products. Advertisers are encouraged to thoroughly understand and comply with the legal frameworks in their chosen markets.
This development follows heightened regulatory scrutiny in the crypto space. UK authorities, for example, recently issued a warning against an unregistered Solana-based memecoin and NFT project. They cautioned consumers about the risks of engaging with unlicensed promotions, highlighting the potential financial dangers if the company were to fail.
The tighter controls are part of broader international efforts to regulate crypto advertising. Nigeria’s Securities and Exchange Commission has also implemented stricter measures, requiring influencers and virtual asset service providers to seek approval before marketing crypto products.
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