Google to allow crypto exchanges to target US users

The search engine will let advertisers offer exchanges and wallets to American users

Starting 3 August, advertisers offering crypto exchange and wallet services can target users from the United States using Google. The search engine made this clear but explained that the advertisers need to follow a set of requirements before they can run their ads to target US-based customers.

According to the search engine giant, only federal or state-chartered bank entities can offer cryptocurrency exchange and wallet service ads to US users. Furthermore, the companies will have to comply with appropriate legal requirements both at the state and federal levels. Also, they have to ensure that their ads and landing pages are in line with all Google Ads policies.

Although Google will allow crypto exchanges and wallet providers to run ads and target US customers, it revealed that its ban on initial coin offerings (ICO) remains in place. Google also said that adverts promoting decentralised finance (DeFi) protocols are not allowed. It also won’t allow ads that contain investment advice, trading signals, or compare various cryptocurrency issuers.

The Alphabet Inc. subsidiary banned cryptocurrency-related ads in March 2018, making it impossible for people to advertise initial coin offerings, exchanges, wallets, and various other crypto-related services.

Following its ban in March 2018, Google lifted some bans, allowing regulated cryptocurrency trading platforms to purchase them in the United States and Japan. Despite Google’s ban, crypto trading platforms have experienced massive growth over the past few years.

The market’s performance has attracted millions of people into the market, with most of the crypto exchanges achieving a record number of users over the past few months. With the market performance, the crypto industry has also welcomed numerous financial institutions in various parts of the world.