- Google revised its cryptocurrency advertising policy to allow ads about cryptocurrency trust funds.
- Crypto trusts include financial products that allow investors to trade shares in trusts holding large pools of digital currencies.
- The update will take effect in January, the same period analysts predict the SEC will greenlight a spot Bitcoin ETF.
In a notable development, American technological giant Google has updated its cryptocurrency advertising policy to allow ads about cryptocurrency trust funds. This significant move comes as analysts speculate that a spot Bitcoin exchange-traded fund will come in January.
Google said the update will take effect on January 29, 2024. Importantly, the policy will apply to advertisers offering crypto trusts targeting customers in the United States. Furthermore, the tech giant clarified that such crypto trusts include “financial products that allow investors to trade shares in trusts holding large pools of digital currency.”
However, the advertisers must meet specific requirements, along with being certified by Google. Part of the certification requirements includes compliance with local laws in any area where they are operating.
“As a reminder, we expect all advertisers to comply with the local laws for any area that their ads target. This policy will apply globally to all accounts that advertise these products,” Google added.
Additionally, the company cautioned that a violation of any of the rules would lead to a suspension. Before that, a warning seven days prior will be issued to the advertisers before the accounts are closed, Google added.
This recent policy revision highlights a shifting stance at the technology giant towards crypto-related advertisements. Since a ban in March 2018, Google has gradually eased its restrictions on cryptocurrency advertisements.
Earlier in August, the company announced plans to allow ads promoting NFT games starting in September, but with certain restrictions. While games that allow players to participate in Web3 games are permitted, the company has maintained its ban on NFT games that promise real-world benefits and gambling.
Meanwhile, the update on Crypto Trust has sent a wave of excitement through the crypto community. Already, Bitcoin-ETF-fueled optimism has sent the crypto market up in recent months, with Bitcoin peaking at an annual high.
Ahead of the predicted ETF approval, companies in the race, such as BlackRock, Grayscale, and Fidelity, have reportedly met with the U.S. Securities and Exchange Commission to amend their filings. Experts predict an approval could push Bitcoin’s price to an all-time high of $100K by December 2024.
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