Google has announced that starting January 2025, all crypto advertisers in the UK will need authorization from the Financial Conduct Authority (FCA) before promoting their services on the platform. This is part of an effort to enhance the regulatory framework surrounding cryptocurrency advertising.
The new regulations primarily affect crypto exchanges and software wallet providers, who must navigate the FCA's registration process to advertise on Google. In the past, Google had imposed a ban on all crypto-related ads but later allowed regulated exchanges and wallet providers to advertise under specific conditions. Hardware wallets, however, are exempt from FCA registration as long as they are solely used for storing private keys and do not facilitate trading or exchange services.
Advertisers, regardless of the type of crypto product they are promoting, must still obtain Google certification and adhere to local regulations. The policy update applies globally, reflecting a unified approach to crypto advertising across Google's platforms.
The recent approval of spot Bitcoin ETFs by the SEC has influenced this policy update, as it marks a milestone in the mainstream acceptance of cryptocurrency. As the cryptocurrency market matures, the interplay between regulatory bodies and tech giants like Google will shape the future of crypto advertising.